Asian rubber prices end the session mixed, with the Tokyo natural rubber prices ending higher supported by strength in the U.S. dollar.
The moves in the U.S. dollar over the past day or so have provided some support for rubber, says Kaname Gokon, an analyst at Okato Shoji in Tokyo.
However, weakness in natural rubber prices on the Shanghai Futures Exchange could put some pressure on prices in coming days. Futhermore, news that new vehicle sales in China were down 2.2% in April on the previous year will likely increase concerns that demand for natural rubber will weaken.
Asian Rubber Futures
May 11 Change from previous close
Tocom Oct RSS3 Y213.8/kg Up Y4.7/Kg
Shanghai Sep SCR5 CNY13,395/Ton Dn CNY20/Ton
Sicom Jun RSS3 US 212.5 cents/Kg Up US2.1 cents/Kg
Sicom Jun TSR20 US 149.7 cents/Kg Up US1.7 cents/Kg
USS May THB68.67-THB69.37/Kg THB67.67-THB67.90/Kg
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(END) Dow Jones Newswires
May 11, 2017 06:46 ET (10:46 GMT)