Uncertainty about a a trade dispute between the US and China – sparked by President Barack Obama slapping further tariffs on Chinese tyre imports – continued to unsettle investors in commodity markets on Tuesday, dragging rubber prices lower.
In Tokyo, February rubber futures traded down 3.2 per cent at Y189.2 a kilogramme after falling 9.2 per cent on Monday. In Shanghai, rubber futures fell to the lowest level since July after dropping by the 5 per cent daily trading limit on Monday. January rubber dropped 4.9 per cent to Rmb16,850 a tonne before trading at Rmb17,280 a tonne. The US has slapped further tariffs on imports of Chinese tyres.
