By Lucy Craymer
Tokyo and Shanghai rubber futures prices ended lower as the Chinese yuan and Japanese yen each strengthened slightly against the U.S. dollar after the inauguration of U.S. President Donald Trump on Friday.
Investors took to selling rubber futures contracts as they became nominally more expensive than U.S. dollar physical contracts, said Kaname Gokon at Okato Shoji brokerage in Tokyo.
In addition, he said, there was likely some profit-taking in the market given the sharp rally in rubber prices at the start of the month.
Asian Rubber Futures
Jan 23 Change from previous close
Tocom Jun RSS3 Y288.3/Ton Down Y2.0/Ton
Shanghai May SCR5CNY19,955/Ton Down CNY495/Ton
Sicom Feb RSS3 US 251.7 cents/Kg Down US 0.3 cents/Kg
Sicom Feb TSR20 US 209.7 cents/Kg Down US 0.3 cents/Kg
USS Jan THB82.72-THB83.19/Kg THB82.98-THB83.60/Kg
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(END) Dow Jones Newswires
January 23, 2017 05:50 ET (10:50 GMT)
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