TOCOM holds near 26-month low amid demand worries on Nov.6
TOKYO: Benchmark Tokyo rubber futures extended declines on Tuesday to hold near a 26-month low amid consistent worries over slack demand.
The Tokyo Commodity Exchange rubber contract for April delivery finished 1.2 yen lower at 159.5 yen ($1.41) per kg, marking its first close below 160 yen since Sept. 16, 2016.
“Worries over slack demand amid intensifying trade tensions between the United States and China weighed on the market,” said a Japanese trading source.
TOCOM’s technically specified rubber (TSR) 20 futures contract for May delivery fell 0.7 percent to close at 145.4 yen per kg.
The most-active rubber contract on the Shanghai futures exchange for January delivery rose 45 yuan to finish at 11,235 yuan ($1,623.34) per tonne, trading near a three-month low hit a day earlier.
Singapore’s SICOM exchange was closed due to a public holiday.
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