Rubber Daily Price Kerala 15/03/2018
Rubber RSS4 Kottayam: 125.00
Rubber RSS5: 122.00
Rubber Loose: 118.00
Rubber Lot: 113.00 – 115.00
Rubber scrap: 85.00
Rubber Latex: 81.00
Field Latex: 115.00
Rubber ISNR 20: 115.00
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TOCOM ends down on strong yen, weak Shanghai
TOKYO : Benchmark Tokyo rubber futures ended down 1.7% on Friday, coming under pressure from a stronger yen and weak Shanghai futures, amid concerns over rising stockpiles.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, have been getting little support from the ongoing curbs in exports by a group of three of the world’s top natural rubber producers, as stockpiles in Japan climbed to a more than three-year high.
The dollar fell against the yen on Friday, after a report that U.S. President Donald Trump would remove his national security adviser added to concerns about recent White House personnel changes and what that meant for policy.
A stronger Japanese currency makes yen-denominated assets less affordable when purchased in other currencies.
The Tokyo Commodity Exchange rubber contract for August delivery finished 3.4 yen lower at 191.8 yen (US$1.82) per kg. For the week, it gained 1.1%.
“Shanghai futures also face a similar situation as stocks pile up, in a trend that highlights slack demand,” said a Japanese trading source.
Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.1% from last Friday, the exchange said on Friday.
The most active rubber contract on the Shanghai futures exchange for May delivery fell 200 yuan to finish at 12,580 yuan (US$1,989) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for April delivery last traded at 145.1 U.S. cents per kg, down 1.4 cents.