US-China tensions weaken Tocom rubber prices earlier in the week | DZHI - DZH International 
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US-China tensions weaken Tocom rubber prices earlier in the week

  • i2Matrix
  • 19 May 2020
 
Looking at rubber trading in several international commodity trading exchanges Monday (05/18/2020), it was observed only on the Japanese stock exchange (Tocom) and the Singapore stock exchange (Sicom) which dropped in price. While in the China stock exchange (SHFE) it is still moving strongly.
The strong price of oil on the Chinese market is underpinned by the strong movement of Brent international oil prices. But fundamentally the rubber trade is severely disrupted by new trade disputes between the United States and China which are the world's largest rubber consumers. It is feared this dispute will further depress the position of the volume of global demand.
The price of natural rubber in Tocom for the busiest contract for the October 2020 contract late afternoon session closed down 1.6 yen or 1.08% from the end of the previous trade to position 151.4 yen after briefly reaching lows at 151.2 yen and highs at 153.6.
Likewise, the price of natural rubber, which is traded on the Shanghai Stock Exchange (SHFE), is the September contract which closed at 10245 yuan, which is up about 10 yuan or 0.09% from the previous position. Rubber prices on the Sicom stock exchange, for June contracts, experienced a weakening of US $ 0.3 or 0.27% to US $ 108.9.
 
(Translated with Google Translate from https://www.vibiznews.com/2020/05/18/ketegangan-as-china-melemahkanharga-karet-tocom-awal-pekan/)
 
-- VibizNews

 

 

 

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