By Vibhuti Agarwal
Rubber prices across Asian markets ended Thursday's session slightly lower, weighed on by weakness in Tokyo and Shanghai futures.
Benchmark Tokyo rubber inched down after losses in Shanghai and a fall in Japanese equities. The Nikkei, feeling pressure from overnight gains in the yen, shed 0.5%.
"The buying momentum fizzled with a stronger yen and Japanese equities lower," said Kaname Gokon of brokerage firm Okato Shoji in Tokyo. He said the market had "lost a sense of direction."
The market's focus remained on available supplies of natural rubber and whether floods in Thailand will have a long-term impact on output in the world's largest producer of the commodity.
The Tokyo Commodity Exchange rubber contract for July delivery finished down 1.3 yen at Y307.7 ($2.74) a kilogram.
The most active rubber contract on the Shanghai futures exchange for May delivery fell 20 yuan to finish at CNY20,695 ($3,015) a metric ton.
Asian Rubber Futures
Feb 9 Change from previous close
Tocom Jul RSS3 Y307.7/Kg Down Y1.3
Shanghai May SCR5 CNY20,695/ton Down CNY20
Sicom Jun RSS3 276.0 US cents/Kg Down 5.0 US cents
Sicom Jun TSR20 227.0 US cents/Kg Down 5.5 US cents
USS Feb THB89.23-THB89.53/Kg THB88.89-THB90.22/Kg
By Vibhuti Agarwal at email@example.com
(END) Dow Jones Newswires
February 09, 2017 06:05 ET (11:05 GMT)
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