Rubber prices rebounded in trading this morning, Tuesday (27/2/2018), along with rising rubber stocks in China.
The price of rubber for delivery in August 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), fell 0.41% or 0.80 points to 193.00 yen per kilogram (kg) at 1032 GMT.
Earlier, the price of Augustur's rubber contract opened up 0.36 percent or 0.70 points to 194.50 yen per kg after yesterday's trade closed up 2.76 percent or 5.2 points at 193.80.
Gu Jiong, an analyst with commodity broker Yutaka Shoji in Tokyo, said high rubber stocks in China are pressing the price of this commodity.
The rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tonnes last week. This is an increase for 13 weeks in a row.
Meanwhile, today's yen exchange rate was observed to weaken 0.05% or 0.05 point to 106.98 position per US dollar at 10:59 pm.
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