Rubber rises
Benchmark Tokyo rubber futures inched higher on Friday, helped by short-covering ahead of the weekend and US jobs data due later in the day, but marked a sixth straight weekly loss amid lingering concerns over slower demand in top buyer China. The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery finished 0.2 yen higher at 157.9 yen ($1.45) per kg.
For the week, TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, slid 2.6 percent, falling for a sixth week in a row, the longest losing streak since July last year. The benchmark has fallen more than 20 percent since hitting a recent high of 205.1 yen on April 27. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 165 yuan to finish at 10,515 yuan ($1,596.91) per tonne.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
