@ TOCOM rubber extends decline on weak Shanghai futures (10/11/2017)

10 Nov 2017
25 times

TOKYO (Nov 9):   futures fell further on Thursday, weighed down by a decline in Shanghai futures and worries over sluggish global demand for , brokers said.

TOCOM has also been hit by profit-taking, after touching a near one-month high of 207 yen on Tuesday.

The Tokyo Commodity Exchange rubber contract for April delivery finished 1.6 yen lower at 203.1 yen (US$1.79) per kg.

 inventories at Japanese ports stood at 5,784 tonnes as of Oct 20, up 9.1% from the last inventory date, data from the Rubber Trade Association of Japan showed on Thursday.

Malaysia’s industrial production in September expanded at a pace well below expectations, as growth slowed across all sub-sectors like petroleum, chemical, rubber and products.

The most active rubber contract on the Shanghai Futures Exchange for January delivery fell 110 yuan to finish at 13,805 yuan (US$2,082) per tonne. The contract also touched a five-week high of 14,235 yuan on Monday.

The front-month rubber contract on Singapore’s  exchange for December delivery last traded at 142.80 U.S. cents per kg, down 1 cent.

In market news,  has launched an antidumping probe into imports of a synthetic rubber called nitrile rubber from South Korea and Japan, the Ministry of Commerce said in a statement on Thursday. 

(US$1 = 113.5800 yen)
(US$1 = 6.6309 Chinese yuan)

Source : https://globalrubbermarkets.com

Rate this item
(0 votes)