Rubber snaps four-session losing streak on June 26

Tokyo Commodity Exchange (TOCOM) futures inched higher in thin trade on Wednesday, snapping a four-session losing streak, with most investors staying on the sidelines as they waited for a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping later this week.

The benchmark TOCOM rubber contract for December delivery finished 0.2 yen higher at 192.6 yen ($1.79) per kg.

Trump and Xi will meet for the first time in seven months to discuss deteriorating ties between the world's two largest economies. But prospects of progress look slim as neither side has given ground after talks broke down in May.

The most-active rubber contract on the Shanghai futures exchange for September delivery finished steady at 11,615 yuan ($1,687) per tonne.

TOCOM's technically specified rubber (TSR) 20 futures contract for December delivery closed up 0.2 yen at 158.4 yen per kg.

The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 148.5 US cents per kg, down 0.7%. "The trade was light ahead of the Trump-Xi meeting," a Tokyo-based dealer said. "There is limited room for upside because of weakening physical prices in Thailand, but downside risk may be also limited if the yen gets weaker against the US dollar as a result of good outcome from the US-China trade talks," he said.