Tokyo rubber extends losses

Key TOCOM rubber futures extended losses on Wednesday weighed down by a plunge in Japan's stock market and the yen's small rebound, while many investors remained on the sidelines ahead of key US job data to be announced this week. The key Tokyo Commodity Exchange rubber contract for September delivery ended down 3.3 yen, or 1 percent, at 327.5 yen per kg.
The front-month May rubber contract on the SICOM in Singapore was last traded at 371.5 US cents per kg, down 4 cents. "The market slid down as commodities prices overall were weak, with many investors taking a wait-and-see stance ahead of US jobs data," said Toshitaka Tazawa, analyst at trading company Fujitomi Co. Rubber stocks in China's bonded warehouses in Qingdao are estimated to have fallen to about 145,000 tonnes from 250,000 tonnes in early February.