Rubber prices fluctuated in trading today, Wednesday (13/12/2017), influenced by a number of sentiments.
The price of rubber for delivery in May 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), was down 0.59% or 1.20 points to 202.80 yen per kilogram (kg) at 1033 WIB.
Earlier, the May rubber futures contract opened with a weakening of 0.05% or 0.1 point at 203.90, and gained as much as 1.08% or 2.20 points to 206.20 yen per kg.
As for the trade on Tuesday (12/12/2017), rubber prices closed up 0.49% or 1 point at the level of 204 yen per kg.
According to Naohiro Niimura, a partner at Market Risk Advisory, rubber prices are weighed by a stronger yen, a weaker Nikkei index, and a weaker crude oil price on Tuesday.
"However, the weakening of rubber prices is limited by the efforts of the producer countries to limit supply," said Niimura, as quoted by Bloomberg.
Known, Indonesia, Malaysia and Thailand are rumored to be reimposing the rubber export restriction scheme in December 2017 to lift the price of the commodity in the global market.
The three major rubber producing countries that are members of International Tripartite Rubber Council (ITRC) consider the impact of the world rubber price decline, especially for the welfare of small farmers.
Meanwhile, the Japanese yen rose 0.23% or 0.26 points to 113.29 per US dollar at 11:05 pm.
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