Rubber futures in Tokyo Commodity Exchange dropped to three and a half month low falling crude oil prices and concern demand for the commodity used in tires may decline. Rubber futures fell 1.3% to 303 yen, the lowest since May 2. Rubber and platinum futures in Tokyo were under pressure on speculation declining global growth will reduce demand for tires.
Crude oil fell for a third day. The dollar traded near five and a half month high against the euro and seven-month high against the yen as crude oil traded a 14-week low. The Malaysian rubber market fell further today as players continued to stay on the sidelines.
The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery went down by 2 yen, traded at 305.2 yen
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment