Rubber futures ended mixed. This is due to currency, a weaker oil price and China provided a number of influences on the market.
The benchmark Tokyo rubber futures settled higher Thursday, boosted by a weaker yen, said Kaname Gokon, a trader at brokerage Okato Shoji. “The market sentiment is strong, led by signs of recovery at the Dalian Commodity Exchange,” he said. However, there is “no change in the supply and demand balance,” he said.
January Tocom rubber closed 1.3 yen (US$0.01) lower at Y183.3 a kilogram in the night session, which is considered part of the next trading day.
However, the Sicom rubber futures contract ended the session slightly lower, paring gains made in Wednesday trading as softness in oil markets weighed on sentiment somewhat.