The movement of rubber prices ended correction in trading today, Friday (20/10/2017), amid expectations of increasing the amount of inventory.
The price of rubber for delivery in March 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), closed down 0.25% or 0.50 points at 197.10 yen per kilogram (kg).
Earlier, the price of rubber opened with a decline of 1.21% or 2.40 points at 195.20 after trading on Thursday (19/10) ended up 0.82% at 197.60 level.
"Investors are starting to take profits on expectations that the number of inventories in China will increase," said Kazuhiko Saito, an analyst at brokerage firm Fujitomi, as quoted by Bloomberg.
Total rubber stocks monitored by the Shanghai Futures Exchange reported up 3.6% on Oct. 12, an increase for the 18th week.
The total rubber inventories in Qingdao increased 5.1% to 198,900 tonnes on October 13.
On the other hand, the yen was down 0.59% or 0.66 points to 113.20 per US dollar at 13.49 WIB, after on Thursday (19/10) ended up appreciating 0.35% at position 112.54
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