Rubber dips on Nov.29
Benchmark Tokyo rubber futures dipped from 1-1/2 year highs on Tuesday, as investors took profit after Shanghai futures pared earlier gains and as weaker metals prices weighed on market sentiment, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for May delivery finished 3.4 yen, or 1.4 percent, lower at 239.9 yen ($2.13) per kg. It hit a high of 245.6 yen, the highest since June 2, 2015, on Monday evening, which is considered part of Tuesday's trade.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 35 yuan to finish at 18,740 yuan ($2,718.74) per tonne, pressured by profit-taking. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 171.9 US cents per kg, down 2.9 cent.
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