October 01, 2013
Key Tokyo rubber futures fell to a one-month low on Monday as the yen rose against the US dollar with a shutdown of the US government seeming increasingly likely. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also hurt as weak manufacturing data out of top rubber user China and lower equities weighed on sentiment.
The key TOCOM rubber contract for March delivery fell 1.7 percent to settle at 265.7 yen per kg, after trading as low as 264.1 yen, its weakest level since August 22. The most-active rubber contract on the Shanghai futures exchange for January delivery dropped 2.3 percent to 20,080 yuan per tonne. The front-month rubber contract on Singapore’s SICOM exchange for October delivery last traded at 227.60 US cents per kg, or 4 cents lower. Courtesy Reuters
Published in ZaraiMedia.com