Rubber prices turned higher on trading today, Wednesday (28/2/2018),
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 0.21% or 0.40 points to 194.20 yen per kilogram (kg) at 11:10 pm.
Earlier, the price of the August rubber contract opened down 0.1 percent or 0.20 points to 193.60 yen per kg after yesterday's trade closed at a stagnant level of 193.80 yen per kg.
Korakod Kittipol, marketing manager of Thai Hua Rubber said rubber prices were buoyed by concerns about limited supply in Thailand.
Meanwhile, Kazuhiko Saito, an analyst at Fujitomi commodity brokerage, said weak Chinese economic data weighed on sentiment, raising concerns that demand will weaken.
Based on data released today, the Purchasing Managers' Index (PMI) of the manufacturing sector in February 2018 reached 50.3. This figure is lower than the estimate in a Bloomberg survey that reached 51.1.
Meanwhile, today's yen exchange rate is up 0.13% or 0.14 points to position 107.19 per US dollar at 12.00 WIB
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