TOKYO: Benchmark Tokyo rubber futures sank on Thursday, following yen’s surge against the dollar and as investors cashed in on a seven-day rally that had boosted prices to a five-week high.
The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery finished down 6.4 yen, or 2.8 percent, at 223.3 yen ($2.01) per kg, dropping from a five-week high hit in the previous session.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 360 yuan to finish at 13,490 yuan ($1,957) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for June delivery last traded at 153.5 US cents per kg, down 2.2 cents.—Reuters
Sugar, coffee futures sink as Brazil’s currency tumblesBudget proposals