Tokyo rubber falls on May 12
Tokyo Commodity Exchange (TOCOM) futures fell on Tuesday on deepening fears over a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
TOCOM's rubber contract for October delivery finished 0.5 yen lower at 152.3 yen ($1.42) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery lost 125 yuan to finish at 10,235 yuan ($1,444) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 108.2 US cents per kg, down 0.5%.
Toyota Motor Corp said it expected profit to drop 80% to its lowest in nine years, as Japan's biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles.
Factory workers began returning to assembly lines in Michigan on Monday, paving the way to reopen the US auto sector but stoking fears of a second wave of infections as strict lockdowns are eased across the country.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
