Asian rubber settled lower Friday due to losses in oil prices as well as a sharp decline in Shanghai rubber ahead of a key U.S. ruling involving tire imports from China.
Benchmark November natural rubber on the Tokyo Commodity Exchange settled 2.1% lower at Y232.6 ($1.88) a kilogram with investors also seeking to lock in recent gains.
Benchmark natural-rubber futures on the Shanghai Futures Exchange settled 2.8% lower on market jitters ahead of a final U.S. ruling, due Friday, on the implementation of import duties for passenger-vehicle tires made in China, said a Singapore-based trader.
November Tocom rubber closed Y1.6 lower at Y231.0/kg in the night session, which is considered part of the next trading day.
Asian Rubber Futures June 12 Change from previous close Tocom Nov RSS3 Y232.6/Kg Down Y5.1 Shanghai Sep SCR5 CNY14,120/Ton Down CNY410 Thai Jan RSS3 THB62.70/kg Down THB1.50 Sicom Jul RSS3 184.9 U.S. Cents/Kg Down 4.1 Cents Sicom Jul TSR20 159.3 U.S. Cents/Kg Down 2.8 Cents Asian Physical Rubber USS June THB58.19-THB58.42/Kg THB58.58-THB59.40/Kg