Benchmark Tokyo rubber futures dropped to a nearly three-week low on Tuesday, extending losses into a third straight session, on worries about volatile Chinese equity markets while slowing demand in China, the world's top buyer of the soft commodity, also weighed on sentiment. The Tokyo Commodity Exchange (TOCOM) rubber contract for new January delivery fell 1.1 yen, or 0.5 percent, to close at 202.6 yen ($1.64) per kg compared with its opening price of 203.7 yen.
It had earlier fallen to as low as 199.5 yen, the lowest since July 9. The most-active rubber contract on the Shanghai Futures Exchange for January delivery fell 45 yuan to finish at 12,660 yuan ($2,039.21) per tonne, recovering from a low of 12,355 yuan. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 138.8 US cents per kg, down 1.3 cent.
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