Tokyo rubber futures ended slightly lower on Tuesday after early buying driven by a weaker yen against the US dollar subsided, but steady demand in the physical market helped cushion the fall. The most active August 2010 contract on the Tokyo Commodity Exchange hit an intraday high of 290.1 yen per kg before settling at 287.8 yen, down 1.3 yen from the previous settlement of 289.1 yen.
"There's not much activity. Volumes are small and I guess people are waiting for the funds to come back," a dealer in Thailand's southern city of Hat Yai said. In the physical market, Indonesia's SIR20 was traded late on Monday at $1.42 per pound ($3.13 a kg) for May and June shipments, while Thai RSS3 changed hands at $3.31 a kg, reflecting steady interest from tyre makers. There were no reports of deals for Malaysia's SMR20 grade.
The dollar gained 0.2 percent to 90.32 yen after dipping as far as 89.83 yen on Monday when the Tokyo market was shut for a holiday. Oil was steady above $81 a barrel on Tuesday, facing pressure from a firmer US dollar and caution ahead of a European Union summit to discuss Greece's debt woes.
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