SINGAPORE: Japanese rubber futures fell on Wednesday, surrendering earlier gains as prospects of heightened trade tensions and weakening domestic demand in top consumer China outweighed a softer yen.
The Osaka Exchange (OSE) rubber contract for March delivery closed down 4.5 yen, or 1.15%, at 386.6 yen ($2.54) per kg.
The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 240 yuan, or 1.31%, to finish at 18,045 yuan ($2,530.11) per metric ton.
Chinese exporters say the threat of tariffs if Donald Trump wins next month’s US presidential election is rattling China’s industrial complex, which sells goods worth more than $400 billion annually to the U.S and hundreds of billions more in components for products Americans buy from elsewhere.
Comments