Benchmark Tokyo rubber futures ended higher for a second consecutive session on Thursday as the dollar hit its highest in about two weeks against the yen, supported by the rise in US bond yields this week, brokers said.
The dollar rose as high as 113.095 yen in early Asian trade, its strongest level since Oct 6. A weaker yen makes yen-denominated commodities cheaper for holders of other currencies.
The Tokyo Commodity Exchange rubber contract for March delivery finished 1.6 yen higher at 197.6 yen (US$1.75) per kg, up 2.1% from a 3½-month intraday low hit earlier this week.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 235 yuan to finish at 13,365 yuan (US$2,018) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 142 US cents per kg, down 1 cent.
No comments:
Post a Comment