Rubber prices closed lower on trading today, Thursday (28/12/2017) as investors off ownership towards the end of trading in 2017.
The price of rubber for delivery in June 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.04% or 2.20 points at 209.60 yen per kilogram (kg).
Earlier, the May rubber futures contract opened 0.57% lower at 210.60, after trading on Wednesday (27/12) ended down 0.14% or 0.3 points to 211.80 yen per kg.
According to Kazuhiko Saito, an analyst at Fujitomi brokerage firm in Tokyo, investors are pulling their positions ahead of the final holiday of 2017.
"(In addition), the weakening occurred amid the strengthening of the yen," Kazuhiko said.
The yen appreciated 0.57% or 0.65 points to 112.70 per dollar at 14.05 pm.
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