Tokyo rubber down on Aug.23
2020/8/23 20:05:42Editor：AmandaFont Size：Big Medium Small
Japanese rubber futures ended lower on Friday, posting a second weekly decline in a row, as manufacturing activity in Japan fell in August underlining weak prospects for recovery from the coronavirus crisis. Osaka Exchange's rubber contract for January delivery finished the day 1.7 yen, or 1%, lower at 173.3 yen per kg.
The contract fell for a second straight week, dropping 1.3 on the week. The rubber contract on the Shanghai futures exchange for January delivery rose 10 yuan to finish at 12,380 yuan per tonne.
Japanese factory activity extended its decline in August for a 16th month, raising doubts over manufacturers' hopes for a rapid recovery as they struggled with the global economic downturn brought on by the Covid-19 pandemic.
Business Recorder
Related Article
- China's Hainan introduces coconut producers association
- Trump 'cancels' Goodyear tires as he campaigns against 'cancel culture'
- 474 chemical companies may disappear in Shandong Province
- China newly increased 2.6 mln tons/year of wasted rubber process capacity in past year
- Dongfeng’s subsidiary starts constructing new auto parts factory in Shiyan
- 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
