Key TOCOM rubber futures finished down 1 percent on Wednesday, unsettled by concerns about the impact of a fragile economy on demand and with a holiday in China next week keeping investors on the sidelines. Despite Wednesday's drop, Tokyo rubber futures are on course for their first monthly gain in seven this month following a broad-based rally in commodities spurred by measures from the United States to Europe to stimulate economies.
But with the stimulus boost waning, investor focus has shifted back to a shaky global economy, that among others, has dented demand and prices of rubber for the most part of this year. The key Tokyo Commodity Exchange rubber contract for March delivery settled down 2 yen at 253.4 yen per kg, after hitting an intra-day low of 251.3 yen. The most active Shanghai rubber contract for January delivery closed up 0.8 percent at 23,840 yuan per tonne. The front-month October rubber contract on the SICOM in Singapore was last traded at 283.50 US cents per kg, down 1.6 cents.
Comments
Comments are closed.