Tokyo rubber dips 0.8% on weak crude oil
Tokyo rubber futures closed roughly 0.8% lower on Wednesday on fragile crude oil prices, but ended off the day’s low on support from a softer yen.
TOKYO: Tokyo rubber futures closed roughly 0.8% lower on Wednesday on fragile crude oil prices, but ended off the day���s low on support from a softer yen.
Traders have said reports of slower automobile sales were also weighing on rubber, as one of its main uses is in the production of tyres.
���The mood is that global economic growth is slowing ... and that means another negative factor for rubber,��� a Tokyo-based trader said. The key Tocom rubber contract for January delivery finished at 329 yen per kg, down 2.6 yen.
Traders have said reports of slower automobile sales were also weighing on rubber, as one of its main uses is in the production of tyres.
���The mood is that global economic growth is slowing ... and that means another negative factor for rubber,��� a Tokyo-based trader said. The key Tocom rubber contract for January delivery finished at 329 yen per kg, down 2.6 yen.
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