The weakening of the price of rubber thinning in trading today, Friday (20/10/2017), following the weakening Japanese yen exchange rate.
The price of rubber for delivery in March 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), was stagnant at 197.60 yen per kilogram (kg) at 10:26 pm.
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) closed up 0.82% to 197.60 yen per kg.
Throughout this week, rubber prices still posted a 3% decline.
Reported by Bloomberg, the weakening of rubber prices this week occurred following an increase in rubber reserves in China.
Kazuhiko Saito, an analyst at Fujitomi, said investors are starting to take for the sake of expectations that rubber stocks in China will increase.
Despite the weakness, rubber prices began to creep into gains as the yen exchange rate depressed against the US dollar.
The yen was down 0.53% or 0.6 points to 113.14 per US dollar at 10:54 pm.
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