By Vibhuti Agarwal
Asian rubber prices ended Tuesday's trading session mixed, with Tokyo and Shanghai rubber futures ending on the downside but Singapore rubber prices steadier.
Tokyo rubber-price futures closed sharply lower, tracking weakness in Shanghai futures rubber contracts and more broadly in agricultural commodities futures contracts in China.
The instability in agricultural commodities futures contracts in China has dampened the mood of the market, resulting in light trading volumes, traders said.
Rubber prices have largely been driven by speculation in China in recent weeks and analysts say that there might be some profit taking ahead of the end of the year.
The Tokyo Commodity Exchange rubber contract for Maydelivery dropped 9.6 yen to end at 266.7 yen per kilogram on Tuesday. The Tokyo rubber contract last week touched its highest level in three years on investor optimism about better rubber demand after data showed a rise in vehicle sales in top-buyer China.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 620 yuan to settle at 19,095 yuan ($2,747) per ton.
The front-month rubber contract on Singapore's SICOM exchange for January delivery ended at 230.5 U.S. cents per kilogram, up 3.0 cents.
Asian Rubber Futures
Dec 20 Change from previous close
Tocom May RSS3 Y266.7/Kg Down Y9.6
Shanghai May SCR5 CNY19,095/ton Down CNY620
Sicom Jan RSS3 230.5 US cents/Kg Up 3.0 US cents/Kg
Sicom May TSR20 203.8 US cents/Kg Up 0.8 US cents/Kg
USS Dec THB74.12-THB74.32/Kg THB75.59-THB76.60/Kg
By Vibhuti Agarwal at firstname.lastname@example.org
(END) Dow Jones Newswires
December 20, 2016 05:51 ET (10:51 GMT)
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