Tokyo rubber erases early gains on June 11
Tokyo Commodity Exchange (TOCOM) futures erased early gains and fell on Monday, while Shanghai remained strong. The benchmark TOCOM rubber contract for November delivery finished 1.4 yen ($0.0129) lower at 205 yen per kg. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 180 yuan ($25.97) to finish at 12,290 yuan per tonne. TOCOM's technically specified rubber (TSR) 20 futures contract for December delivery closed up 0.1% at 167.6 yen per kg.
The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 154.8 US cents per kg, up 0.9%. The US dollar was quoted around 108.51 yen, compared with around 108.18 yen on Friday afternoon. Oil prices were steady on Monday as US-China trade tensions continued to threaten demand for oil, but tight crude supply and the swift end to a trade dispute between Mexico and the United States offered support.
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