Tokyo rubber plunges on tumbling Shanghai on April 19
Tokyo Commodity Exchange (TOCOM) futures plunged more than two percent to an about 1-week low on Thursday, weighed down by tumbling Shanghai futures amid lingering worries over US-Sino trade talks.
The benchmark TOCOM rubber contract for September delivery finished 4.4 yen, 2.3 percent, lower at 187.1 yen ($1.67) per kg, hitting the lowest since April 10.
The most-active rubber contract on the Shanghai futures exchange for September delivery plunged 255 yuan to finish at 11,400 yuan ($1,702) per tonne.
TOCOM's technically specified rubber (TSR) 20 futures contract for October delivery closed down 2.1 percent at 168.5 yen per kg.
The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 148.7 US cents per kg, down 1.3 percent. "Rubber prices in both Shanghai and Tokyo were under pressure due to lingering concerns over US-Sino trade talks since there has been no clear outcome," said Satoru Yoshida, a commodity analyst with Rakuten Securities.
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