The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.21% or 0.40 points at 192.30 yen per kilogram (kg).
That morning the rubber opened in the red zone with a 0.16% decline or 0.3 points at 192.40 yen, after posting a rebound by ending up 1.53% or 2.90 points at 192.70 yen per kg on Monday (12/3).
Gu Jiong, commodity broker analyst Yutaka Shoji, said rubber prices weighed on crude oil prices. "Thus, investors are driven to let go of their positions amid concerns over an increase in rubber stocks," added Gu Jiong, as quoted by Bloomberg.
The rubber stocks monitored by the Shanghai Futures Exchange rose 0.2% to 437.896 tonnes last week, continuing to increase in the 15th consecutive week.
Meanwhile, WTI oil price contract in April 2018 was observed a slight increase of 0.02% or 0.01 point to US $ 61.37 per barrel at 14.13 WIB, after trading on Monday (12/3) ended down 1.1% 61.36.
On the other hand, the yen exchange rate was observed to weaken 0.40% or 0.43 points to 106.85 position per US dollar at 14.23 pm, after ending up 0.37% at 106.42 on Monday (12/3).
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