TOKYO, Nov 14 (Reuters) – Benchmark Tokyo rubber futures fell 3.8 percent on Monday as profit-taking kicked in after they hit a near 16-month high in the night session. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, hit their highest since July 24, 2015 at 211.7 yen in the night session. “TOCOM plunge tracked sharp losses in Shanghai futures overnight,” said a Tokyo-based dealer.
The Tokyo Commodity Exchange rubber contract for April delivery JRUc6 0#2JRU: finished 7.8 yen lower at 197.7 yen per kg. The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 fell 700 yuan to finish at 15,335 yuan per tonne.
Benchmark Shanghai rubber futures touched 16,945 yuan, their highest since June 3, 2015 overnight, before tumbling more than 4 percent on profit-taking. The front-month rubber contract on Singapore’s SICOM exchange for December delivery STFc1 last traded at 164.10 U.S. cents per kg, down 6.5 cents.
(Reporting by Osamu Tsukimori; Editing by Subhranshu Sahu)