Tocom Rubber Down Sharply As Yen Strengthens
14 January 2015, 09:04 SEAST
Tocom RSS3 rubber futures are down sharply as the yen strengthens to hit a one-month high against the U.S. dollar.
While there is tight raw material supply due to floods in Southeast Asia, this is offset by sluggish demand, say traders.
International Rubber Consortium chief executive Yium Tavarolit says in a note that rubber trade participants are looking out for clearer global macroeconomic cues.
Benchmark rubber trades 6.8 yen lower at 197.0 yen/kg.