Tokyo rubber declines; fails to hit 28-year high
ERJ staff report (DS)
Tokyo -- The six-month futures contract on Tokyo's TOCOM exchange closed at yen 336.6/kg ($3.20) on Monday, after hitting an intra-day high of Yen 345.4 ($3.28). The highest price in recent days was on 27 May when the price hit a 28-year high of Yen 345.9/kg.
In Singapore RSS1 was trading around Sing$ 4.41 ($3.23)/kg on Monday.
Traders put the sustained high prices down to the fact that consumers have been using stocks up in the hope that prices will fall, but are now forced to buy more material at the high prices.
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Tokyo prices on TOCOM
Singapore prices on SICOM
Tokyo rubber near 28-year high on record oil Economic Times (India)
Cash rubber prices highest since Korean War Guardian (UK / Singapore)
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