Key Tokyo rubber futures slipped lower on Wednesday, weighed by a strong yen and weak oil prices while technical sentiment remained poor after prices failed to break above a key resistance at 290 yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery fell 2.0 yen to settle at 286.3 yen ($3.40) per kg.
But the nearby August contract rose 10 yen higher to expire on Wednesday at 338.3 yen per kg on active short-covering. Dealers said TOCOM rubber should remain firm, but the upside was likely to be capped as technical sentiment remained weak after prices failed to break above 290 yen per kg.
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