The rubber price rally ended in today's trading on Thursday (7/9/2017), with a decline of more than one percent.
The price of rubber for delivery in February 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.07% or 2.50 points at 231 yen per kilogram (kg).
Previously, rubber prices opened down 0.64% at 232 yen per kg position, after trading on Wednesday (6/9) ended up 2.14% at 233.50.
The weakening of rubber prices today ended the rally posted three days in a row before.
According to Kazuhiko Saito, an analyst at Fujitomi brokerage firm, rubber prices are affected by crude oil prices and a stronger yen.
"Investors are picking up sentiment from weaker crude oil prices and a stronger yen to take profits after recent rallies," he said, as quoted by Bloomberg.
The price of WTI crude oil today was down 0.33% or 0.16 points to US $ 49 per barrel at 13:58 pm. Brent crude fell 0.37 percent, or 0.20 points, to $ 54 a barrel.
Meanwhile, the yen rose 0.16% or 0.17 points to 109.07 per US dollar at 13:59 pm, after on Wednesday (6/9) ended depreciating 0.40% at 109.24.
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