Rubber slides on Sept.8
Benchmark Tokyo rubber futures slid to a one-week low amid light trade on Wednesday, as a surge in the yen against the US dollar after data on the US services sector fell well short of expectations sparked profit taking. The Tokyo Commodity Exchange rubber contract for February delivery finished 2.3 yen, or 1.5 percent, lower at 156.1 yen ($1.54) per kg.
The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, touched 154.4 yen earlier in the session, their lowest since September 1. The TOCOM's September contract closed up 0.4 yen at 166.4 yen. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 130 yuan to finish at 12,645 yuan ($1,897.79) per tonne. The front-month rubber contract on Singapore's SICOM exchange for October delivery last traded at 130.2 US cents per kg, up 1.2 cent.
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