Rubber down

Benchmark Tokyo rubber futures inched down on Monday as a stronger US dollar dragged on commodity prices and persistent worries about an oversupply in Asia outweighed firmer Tokyo equities. The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery finished 0.2 yen lower at 154.9 yen ($1.26) per kg. The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, fell to a low of 153 yen last week, the lowest level since July 2009, amid concerns over slowing demand in top buyer China.
The most-active rubber contract on the Shanghai Futures Exchange for January delivery fell 5 yuan to finish at 10,500 yuan ($1,650.92) per tonne. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 117.2 US cents per kg, down 0.4 cent.