Tokyo rubber futures rose further on Tuesday on the back of concerns on falling supply, but weaker oil prices still weighed on prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 8.1 yen, or 1.6 percent, to settle at 498.9 yen ($6.06) per kg.
"Players liquidated contracts again after seeing oil prices retreat, preventing rubber futures from breaking another new record," one dealer said. The Shanghai rubber futures market is closed and will reopen on Wednesday after a week-long holiday.
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