Weaker yen helps TOCOM erase early losses
Benchmark Tokyo rubber futures rebounded to end one percent higher on Tuesday after earlier hitting a near three-week low, as a weaker yen that makes yen-denominated commodities cheaper for holders of other currencies helped erase early losses, brokers said.
The Tokyo Commodity Exchange rubber contract for October delivery finished 2.1 yen higher at 208.7 yen ($1.84) per kg after marking its lowest since April 20 in night trading at 204.5 yen.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 105 yuan to finish at 13,630 yuan ($1,974) per tonne after hitting 13,410 yuan, the lowest since Sept. 1.
The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 148 U.S. cents per kg, up 1 cent.
In market news, China's Commerce Ministry said it has extended anti-dumping tariffs on chloroprene rubber from Japan, the United States and European Unionfor five years.
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