TOKYO: Japanese rubber futures fell on Friday, hit by a stronger yen and as investors took profits after prices surged to a more than seven-week high in the previous session, although they managed to book a fourth straight monthly gain.
Osaka Exchange's (OSE) rubber contract for January delivery finished 1.2 yen, or 0.7%, lower at 163.6 yen ($1.56) per kg. For the month, it rose 5.9%. The most-active rubber contract on the Shanghai futures exchange for September delivery fell 185 yuan to finish at 10,840 yuan ($1,555) per tonne, after hitting the highest since early March the previous day.
The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 122.4 US cents per kg, up 0.4%. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.9% from last Friday, the exchange said.
Japan's benchmark rubber contract was shifted from the Tokyo Commodity Exchange (TOCOM) to the OSE on Monday, as part of a rearrangement of trading after the Japan Exchange Group Inc (JPX) took over the TOCOM last year. The JPX, which runs the Tokyo Stock Exchange (TSE), also owns the OSE.
Comments
Comments are closed.