Benchmark Tokyo rubber futures fell to a two-week low on Friday, extending the previous day's steep decline, and lost almost 6 percent on the week after weak manufacturing data from China and the United States spurred worries about demand.
The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery settled 1.5 percent lower at 270.8 yen per kg, after bouncing back from an intraday low of 265.9 yen. That was its lowest since May 7. For the week, the October contract lost 5.9 percent, the biggest weekly decline in five. A quick reversal in the dollar's rally versus the yen earlier this week to a 4-1/2-year high weighed on prices.
The most-active rubber contract on the Shanghai futures exchange fell 410 yuan, or 2.1 percent, to 19,360 yuan per tonne. The front-month June rubber contract on Singapore's SICOM futures exchange was last traded at 247.4 US cents per kg, down 10.2 cents. Markets in Thailand, the world's biggest rubber producer, were closed on Friday for a public holiday.
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