Tokyo rubber falls

July 13, 2013

Benchmark Tokyo rubber futures fell 2.7 percent on Friday ahead of a three-day weekend as a firm yen and a lack of strong fundamentals encouraged profit-taking, following the previous day’s more than 4 percent gains, traders said. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December delivery fell 6.7 yen to settle at 238.4 yen ($2.41) per kg. For the week, it fell 2.7 percent.

The most-active rubber contract on the Shanghai futures exchange for January delivery fell 175 yuan to finish at 17,485 yuan ($2,800) per tonne. After TOCOM and Shanghai markets closed, data showed that rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.1 percent from last Friday. The front-month rubber contract on Singapore’s SICOM exchange for August delivery last traded at 219.50 US cents per kg, down 1.8 cents. Courtesy Reuters

Published in ZaraiMedia.com