Rubber prices closed lower in trading today, Thursday (22/2/2018), stopping the rally of strengthening three consecutive days before.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.48% or 0.90 points to 185.10 yen per kilogram (kg).
Previously, the July rubber contract price opened down 0.11% or 0.20 points at 185.80 per kg position, having ended up 1.20% or 2.20 points at 186 yen per kg on Wednesday (21/2) / 2018).
According to We Tan, marketing manager of Welcome Trading company in Singapore, crude oil price weakening and Japan's Nikkei index weighed on sentiment on rubber price movements today.
WTI oil price contract April 2018 today was observed down 1.02% or 0.63 points to US $ 61.05 per barrel at 14:21 pm.
US crude oil prices weakened on concerns that an increase in US oil reserves will press efforts to cut output OPEC in the next week.
Meanwhile, the yen appreciated 0.23%, or 0.25 point, to 107.53 per US dollar position at 14:35 pm, after Wednesday (21/2) ended down 0.42% at 107.78.
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