Tokyo rubber futures flat

Key TOCOM rubber futures erased early losses and ended almost flat on Thursday helped by a stable Shanghai market, but sentiment remained weak as revised concerns about Europe's funding difficulties weighed on commodities markets. The key Tokyo Commodity Exchange rubber contract for September delivery hit a one-month low of 321.8 yen per kg, down 1.7 percent or 5.7 yen, before ending at 326.5 yen down 0.3 percent.
"Solid US job data failed to boost grain and oil prices overnight, a sign of weakness in commodities. We see more sagging in rubber, too," said Toshitaka Tazawa, analyst at trading company Fujitomi Co. The most active rubber contract for September delivery on the Shanghai market, which reopened on Thursday after a three-day holiday, ended up 0.3 percent at 27,195 yuan per tonne. The front-month May rubber contract on the SICOM in Singapore was last traded at 372 US cents per kg, up 0.2 cents.