TOCOM rubber futures December 30 consolidation

Tokyo Commodity Exchange (TOCOM) rubber (13300, 615.00, 4.85%) futures on Tuesday (December 30) after three days of consolidation to rise, the price of rubber this year is expected to be recorded for the second consecutive annual decline, due to supply overcapacity and slowing demand.

TOCOM will be closed starting Wednesday, so today is the last trading day of the year.

TOCOM rubber futures contract prices in June fell 0.5 percent on Tuesday, reported 204.9 yen / kg (0056GMT).

TOCOM rubber futures prices rose in the past three days, the yen declined.

Dollar against the yen on Tuesday, almost flat, hovering around seven and a half month highs touched before located.

US dollar is currently the most popular currency in the market, due to the strong US economic data and the market expected the US will raise interest rates next year.

Rubber futures prices rose more than 2 percent this month, but this year is expected to be recorded for the second consecutive annual decline, due to excess supply and weak demand.

TOCOM rubber futures prices fell about 25 percent this year, recorded the largest annual decline since 2011.

The world’s major rubber producing countries, Thailand, Indonesia and Malaysia rubber production accounts for 70% of the world, and its rubber export restrictions last month agreed to support the price of rubber.

As at Beijing at 9:39 on December 30, Tokyo rubber reported 207.8 yen / kg, up 1.07 percent.