By Lucy Craymer
Asian rubber market ended Thursday mixed but rubber prices across the region remained strong on concerns about tight supply in the market.
The Shanghai Futures Exchange rubber market experienced a small rally during the session, likely supported by positive sentiment as equities also ended the day higher.
Also, the offshore yuan rose 0.8% in a second day of strong gains. A stronger Chinese currency makes rubber contracts nominally cheaper given that most global trade in the commodity is done in U.S. dollars.
The benchmark natural-rubber futures contract on the Tokyo exchange lost 0.1%. This was likely because of some profit-taking given the contract jumped 3.6% in Wednesday trading.
Asian Rubber Futures
Jan 5 Change from previous close
Tocom Jun RSS3 Y273.1/Kg Down Y0.3/Kg
Shanghai May SCR5 CNY 18,325/Ton Up CNY60/Ton
Sicom Feb RSS3 US 235.0/Kg Down US 1.0 cents/Kg
Sicom Feb TSR20 US 195.7/Kg Down US 5.8 cents/Kg
USS Jan THB73.59-THB74.34/Kg THB72.07-THB73.07/Kg
Write to Lucy Craymer at email@example.com, @lucy_craymer
(END) Dow Jones Newswires
January 05, 2017 06:35 ET (11:35 GMT)
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