Tokyo rubber futures rise

24 May, 2011

Key Tokyo rubber futures rose on Monday as sentiment improved with firmness in other commodities markets and a steady yen. The key Tokyo Commodity Exchange rubber contract for October delivery rose 4.1 yen or 1 percent to 382.2 yen per kg as of 0024 GMT.
The most active Shanghai rubber contract for September delivery closed down 95 yuan or 0.3 percent at 31,485 yuan ($4,840.189) per tonne. Volume fell to 1.13 million lots from 1,317,480 lots on Thursday. Traders said the sluggishness in Shanghai rubber futures may reflect concerns about demand from China, the world's biggest consumer of rubber.
The euro fell to a record low against the Swiss franc on Monday, with the single currency extending its losses after ratings agency Fitch cut Greece's credit rating by three notches on Friday. Oil was down in early Asian trade on Monday after rising in thin, volatile trading on Friday, bouncing back from sharp mid-session losses.

Read Comments