29 Sep 2016
The price of rubber for March 2017 delivery, the most active contract on the Tokyo Commodity Exchange, jumped 1.03 percent or 1.70 points to 166.30 yen per kilogram (kg) at 07:57 WIB.
Previously, the rubber price for the March contract opened slightly lower by 0.06 percent at 164.50 yen per kg.
At the same time, the yen exchange rate was seen weakening 0.45 percent or 0.45 points to 101.14 against the US dollar at 08:02 WIB after opening stagnant at 100.69.
Meanwhile in yesterday’s trading (Wednesday, 28/9), the price of the March rubber contract closed with a slight increase of 0.06 percent to 164.60 along with a decline in rubber stocks in China and Japan.
“A decline in rubber stocks in China and Japan has supported the strengthening price of the rubber commodity,” said Naohiro Nimura, partner at Market Risk Advisory, as quoted by Bloomberg.
Movement in Rubber Prices for the March 2017 Contract on the TOCOM
| Date | Price (Yen/Kg) | Change |
| 29/8/2016(07:57 WIB) | 166.30 | +1.03% |
| 28/9/2016 | 164.60 | +0.06% |
| 27/9/2016 | 164.50 | - |
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