Tokyo rubber futures edge down

August 20, 2013

Tokyo Rubber
Tokyo Rubber

Tokyo rubber futures ended lower on Monday on profit-taking in the late session after hovering around the previous session’s close amid light trade, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery dropped 0.8 yen, or 0.3 percent, to settle at 266.5 yen ($2.73) per kg.

“Today’s trade was more to do with technical as there was no fresh news,” a Tokyo-based broker said. “Sell orders kicked in apparently from foreign producers when the contract got closer to 270 yen, while there was a strong support at around 260 yen,” he said.

The most-active rubber contract on the Shanghai futures exchange for January delivery rose 50 yuan to 19,855 yuan ($3,200) per tonne, helped by firm stocks prices. The front-month September rubber contract on Singapore’s SICOM exchange was last traded at 243.0 US cents per kg, down 0.4 cents. Courtesy Reuters
Tokyo rubber
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