TOCOM ends down, pressured by strong yen
Benchmark Tokyo rubber futures ended down 0.1 percent on Friday as a strong yen offset firm Shanghai futures, brokers said.
Tokyo Commodity Exchange (TOCOM) futures have been closely following Shanghai futures, which traded most of the day up around 1 percent, despite a strong yen against the dollar.
A stronger yen makes yen-denominated assets less affordable when purchased in other currencies.
The Tokyo Commodity Exchange rubber contract for February delivery finished 0.2 yen lower at 218.4 yen ($1.98) per kg, after touching a three-day high earlier. For the week, the contract fell 0.4 percent.
The most-active rubber contract on the Shanghai futures exchange for January delivery rose 130 yuan to finish at 16,620 yuan per tonne.
Singapore's SICOM exchange was closed due to a public holiday.
($1 = 110.1200 yen)
- 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
