Tokyo rubber futures fell on profit-taking on Wednesday, giving up the week's gains as traders focused on the imminent expiry of the prompt contract.
The benchmark August 2004 rubber contract on the Tokyo Commodity Exchange settled down 3.5 yen per kg at 152.5 yen. Other months fell by 2.6 to 5.2 yen.
The prompt March contract, which will expire on Thursday, fell by 5.2 yen to close at 137.2 yen. Many traders said they expected a quiet expiry.
"There were no fresh incentives to provide direction and we just saw a bit of profit-taking," one broker said. Turnover in TOCOM rubber was estimated at 8,022 lots, compared with 6,758 on Tuesday and 7,226 on Monday.
Open interest stood at 53,129 lots as of the end of Tuesday, versus 53,445 on Monday and 54,138 on Friday.
Comments
Comments are closed.