By Lucy Craymer
Natural rubber futures largely remain under pressure as earlier concerns about tight supplies in the market seem to have been generally erased.
Rubber prices remain under pressure as there is increasing supply and flat demand so the fundamentals are not supporting moves higher, said Kaname Gokon, an analyst at Okato Shoji.
Natural rubber prices on the Tokyo Commodity Exchange, or Tocom, are also suffering from recent strength in the Japanese yen, which makes the yen-denominated commodity more expensive. Since rubber trading wrapped up Friday, the yen has gained more than 1% against the dollar. Markets in Japan were closed on Monday.
Asian Rubber Futures
Mar. 21 Change from previous close
Tocom Aug RSS3 Y263.0/kg Down Y5.0/kg
Shanghai Sep SCR5 CNY18,135/ton Down CNY415/Ton
Sicom Apr RSS3 US 239.9 cents/Kg Up US0.4 cents/Kg
Sicom Apr TSR20 US 199.3 cents/Kg Down US 3.0 cents/Kg
USS Mar THB72.35-THB73.81/Kg THB73.30-THB74.15/Kg
Write to Lucy Craymer at email@example.com, @lucy_craymer
(END) Dow Jones Newswires
March 21, 2017 06:45 ET (10:45 GMT)
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