Tokyo rubber futures fall 3pc on China demand worry
Friday, 19 October 2012: TOKYO: Tokyo rubber futures fell more than 3 percent at one point on Friday on fading optimism about demand in China, the world’s biggest rubber consumer, after bearish official comments on its trade sector.
China’s September trade data, which showed a surge in exports at twice the rate expected and a return to import growth, are not yet enough to confirm that a recovery is in place for the external sector, the Commerce Ministry said on Friday.
The Tokyo Commodity Exchange rubber contract for March delivery traded at 258.3 yen per kg, down 7.1 yen or 2.6 percent. It had earlier fallen as low as 257.1 yen.