Tokyo (march 01, 2011) : tokyo rubber futures tumbled on monday on concerns over demand from china, prompting investors to close positions, but firmer oil prices helped trim losses. the benchmark rubber contract on the tokyo commodity exchange for august delivery fell as much as 14 yen or 2.9 percent in early trade from friday's settlement at 475 yen. as of 0025 gmt, it was at 463.8 yen, down 11.2 yen or 2.4 percent.
the most active shanghai rubber contract for may delivery fell 70 yuan to close at 38,285 yuan ($5,819) per tonne on friday. rubber output is forecast to rise 8 percent to 10.06 million tonnes in 2011 from 9.32 million tonnes last year on expectations of better weather conditions and high prices, the association of natural rubber producing countries said on friday. rubber inventories in warehouses monitored by the shanghai futures exchange fell 1.9 percent last week, the exchange said on friday.
Monday, February 28, 2011
Tokyo rubber futures slump
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