Tokyo rubber slides on April 3
Tokyo Commodity Exchange (TOCOM) futures fell in light trade on Tuesday, as investors booked profits from the previous session's rally, which was buoyed by strong economic data from top buyer China. The benchmark TOCOM rubber contract for September delivery finished 0.7 yen, or 0.4 percent, lower at 183.8 yen ($1.65) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery rose 40 yuan to finish at 11,680 yuan ($1,737) per tonne. TOCOM's technically specified rubber (TSR) 20 futures contract for October delivery closed up 0.9 percent at 164.1 yen per kg.
The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 146.0 US cents per kg, up 1.0 percent. "Overall market sentiment is so weak that the TOCOM could not maintain rally despite upbeat factory activity data from China," a Tokyo-based dealer said.
"The Tokyo market is expected to stay under pressure toward summer as rubber prices tend to fall toward July and August," he said. The US dollar quoted around 111.36 yen, compared with around 111.03 yen on Monday afternoon.
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