Tokyo rubber hits one-week low

Benchmark Tokyo rubber futures touched a one-week low on Tuesday, tracking weakness in Shanghai and Singapore futures, amid worries of oversupply despite floods in a key producing region in India. The Tokyo Commodity Exchange rubber contract for new February delivery ended at a one-week low of 172.2 yen, down 1.6 percent from its debut price of 175 yen on Tuesday.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 235 yuan to finish at 12,275 yuan ($1,786) per tonne. The front-month rubber contract on Singapore's SICOM exchange for September delivery was last traded at a near two-week low of 131.5 US cents per kg, down 1.6 percent.