Asian rubber futures ended the session mixed Tuesday.
Benchmark Tokyo rubber futures for January delivery ended down 6.2 yen at Y168.7($1.40) a kilogram. The benchmark futures have fallen 31% since June and markets were expecting little recovery in demand.
“The Tocom will continue to be slow due to persistent uncertainty in the Asian physical rubber demand,” said a Tokyo-based analyst.
However, Kaname Gokon, analyst at Okato Shoji, said that with the currency of rubber-producing nations falling sharply the expectation is that exports of rubber from South Asia could actually increase as the products become cheaper.
January Tocom rubber closed up Y3.4 lower at Y172.3/kg in the night session, which is considered part of the next trading day. The new February rubber futures contract ended the session at Y173.4/kg.