Tokyo Commodity Exchange (TOCOM) futures hit a 1-week high on Monday as investors' risk appetite improved after the US-China trade truce eased tensions between the world's two biggest economies that have threatened global demand of the commodity. The benchmark TOCOM rubber contract for December delivery finished higher 1.7 yen, or 0.9%, at 195.2 yen ($1.8) per kg, after touching the highest since June 24 of 197 yen earlier in the session.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 60 yuan to finish at 11,410 yuan ($1,667) per tonne. "It seems that Shanghai remained under pressure due to signs of weakening local demand of automobiles and other products," Tazawa said. TOCOM's technically specified rubber (TSR) 20 futures contract for new January delivery closed at 156.3 yen per kg, down 0.4% from an opening price of 157.0 yen.
