Tokyo rubber rises on July 10
Tokyo Commodity Exchange (TOCOM) futures inched higher on Wednesday even as Shanghai futures continued to fall on weak fundamentals. The benchmark TOCOM rubber contract for December delivery finished 0.9 yen ($0.0083) higher at 177.2 yen per kg. The most-active rubber contract on the Shanghai futures exchange for September delivery fell 75 yuan ($10.90) to finish at 10,735 yuan per tonne.
TOCOM's technically specified rubber (TSR) 20 futures contract for January delivery remained unchanged at 150.6 yen per kg. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 140 US cents per kg, down 0.1%. The US dollar was quoted around 108.93 yen, compared with around 108.84 yen on Tuesday afternoon.
Oil prices rose on Wednesday after industry data showed US stockpiles fell far more than expected, alleviating concerns about oversupply, while major US producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm. Japan's benchmark Nikkei stock average was down 0.15%.
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