Benchmark Tokyo rubber futures fell more than 3 percent to a one-week low on Wednesday as declines in oil and the Tokyo Stock Exchange weighed on prices. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also taking their cue from the bearish sentiment that is gripping markets over US presidential election.
The Tokyo Commodity Exchange rubber contract for April delivery fell 2.8 percent to 178 yen ($1.71)per kg. Earlier in the day, it fell to as low as 176.6 yen, the lowest level since Oct. 26. The most-active rubber contract on the Shanghai futures exchange for January delivery fell 405 yuan to finish at 13,785 yuan ($2,037.69) per tonne. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at $1.46 per kg, down 2.3 cents.
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