Tokyo rubber futures closed down 0.5 percent on Wednesday, trimming losses following a slide to a one-month low after crude oil prices rallied on reports that Iran had test-fired missiles. The key Tokyo Commodity Exchange rubber contract for December delivery finished at 336.8 yen per kg, down 1.7 yen or 0.5 percent, recovering from an intraday low of 332.7 yen, the lowest since June 12.
The benchmark contract hit a peak of 338 yen. TOCOM rubber's fate has been strongly linked with that of crude oil in the absence of fresh factors unique to rubber, and some traders had said the key contract could test 320 yen if oil prices continued to slide.
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