Benchmark Tokyo rubber futures shed early gains to end lower on September 19, hovering at a nearly 2-year low hit in the previous session, amid worries that escalating trade conflicts may hurt global economy and demand for rubber.
China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods.
The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery finished 0.2 yen lower at 165.9 yen ($1.5) per kg, after hitting 167 yen earlier in the trade. It touched the lowest since Oct. 4, 2016 at 164.1 yen on September 18.
