Tokyo rubber slips; Shanghai up

23 Jul, 2011

Key Tokyo rubber futures eased on Friday, hurt by a firmer yen and weak data from Europe and China that raised concerns about slowing global growth, although it held above a key technical level. The key Tokyo Commodity Exchange rubber contract for December delivery fell 3.8 yen or 1 percent to settle at 381.1 yen per kg, ending the week up 0.5 percent and just above its 50-day moving average.
The most active Shanghai rubber contract for January delivery closed on Friday at 36,110 yuan ($5,597.061) per tonne, up from the previous day's close at 35,965 yuan per tonne. Volume slipped to 708,164 lots from Thursday's 736,124 lots.
The rubber market was weighed down by the yen's rise against the dollar to a four-month high earlier, deflating yen-priced TOCOM futures prices.

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