Benchmark Tokyo rubber futures ended little changed on Tuesday, erasing earlier losses helped by a weaker yen and the strength in Shanghai futures, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December delivery rose 0.1 yen to settle at 202.3 yen ($1.99) per kg. TOCOM markets were closed on Monday due to a national holiday. The contract touched an intraday low of 199.7 yen, the lowest since last Thursday.
"It started lower in the morning, dragged down from Monday's lower close in Shanghai futures, but a weaker yen helped the market recover some ground amid thin trading," said Kaname Gokon, general manager of research at brokerage Okato Shoji in Tokyo. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 170 yuan to finish at 15,390 yuan ($2,500) per tonne. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 166.80 US cents per kg, down 1.0 cent.
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