Tokyo rubber futures drop

Tokyo rubber futures ended lower on Friday as players liquidated contracts to avoid risk, and oil prices failed to lend much support, dealers said. The benchmark contract on the Tokyo Commodity Exchange for March delivery fell 0.7 yen to settle at 333.8 yen ($4.10) per kg, losing 2.24 percent in its biggest weekly fall since July.
However, TOCOM prices could rebound next week after the benchmark held above the psychological level of 330 yen per kg, dealers said. The most active Shanghai rubber futures contract for March delivery fell 170 yuan to settle at 31,000 yuan ($4,661) per tonne, losing 2.59 percent on the week, also the biggest weekly fall since July. Oil rose marginally on Friday as the dollar weakened, after jobs and business activity data signalled the US economy would require additional stimulus.