Tokyo rubber up

Benchmark Tokyo rubber futures closed higher on Tuesday but off a two-week high as the yen’s decline versus the dollar, which had stoked the recent rally, stalled and further buying withered as rubber prices hit a technical ceiling of 280 yen. 

The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM), for September delivery, rose 5.6 yen to settle at 275.9 yen ($2.8) per kg. 

It earlier climbed as high as 280.3 yen, the highest since March 28. 

The most-active rubber contract on the Shanghai Futures Exchange for September delivery advanced 200 yuan to 21,685 yuan ($3,500) per tonne. 

The front-month rubber contract on Singapore’s SICOM exchange for May delivery last traded at 255.00 US cents per kg, down 6.4 cents. 

Copyright Reuters, 2013

Muhammad Ramzan Rafique
Muhammad Ramzan Rafique

I am from a small town Chichawatni, Sahiwal, Punjab , Pakistan, studied from University of Agriculture Faisalabad, on my mission to explore world I am in Denmark these days..

Articles: 4630

Leave a Reply

Your email address will not be published. Required fields are marked *