TOCOM rubber Market Price:
EIJING (July 18): Benchmark Tokyo rubber futures rose slightly on Wednesday on a weaker yen and tracking gains in Shanghai rubber.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, have extended gains as the yen depreciated against the dollar, though high stocks and flat demand still weigh on prices.
“Overall, fundamentals of the rubber (market) remain quite stable. Stocks are high and demand is weak, the rise will be limited,” said Xie Xiaonan, an analyst with JLC Network Technology Co Ltd.
The Tokyo Commodity Exchange rubber contract for December delivery finished 1.3 yen (US$0.0115) higher at 174.4 yen per kg