Benchmark Tokyo rubber futures rose modestly on Tuesday, despite the drop in Shanghai market, helped by strong physical prices. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, usually track Shanghai futures. They were down in early trade after an overnight fall in Shanghai.
The Tokyo Commodity Exchange rubber contract for March delivery finished 0.3 yen ($0.0027) higher at 169.1 yen per kg. TOCOM's new technically specified rubber (TSR) 20 futures contract for April delivery dropped 1.4 yen to close at 151.5 yen per kg.
The most-active rubber contract on the Shanghai futures exchange for January delivery dropped 150 yuan ($21.68) to finish at 12,105 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 132.2 US cents per kg, down 0.6 cent.