Rubber falls on July 20
Benchmark Tokyo rubber futures ended 0.6 percent lower on Tuesday as the market came under pressure from weak oil prices and a stronger yen against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also pressured by early losses in Shanghai futures, which ended higher at the close.
The Tokyo Commodity Exchange rubber contract for December delivery finished 1 yen lower at 158.2 yen ($1.49) per kg. TOCOM markets were closed on Monday for a national holiday. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 90 yuan to finish at 11,355 yuan ($1,696) per tonne. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 130 US cents per kg, down 0.1 cent.
Related Article
- 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
