Tokyo rubber futures hit six-month low

Tokyo Commodity Exchange rubber futures fell to a six-month low on Friday, ending the week down 4.4 percent in a fourth weekly decline after weak Chinese factory data highlighted concerns over the eurozone debt crisis and hurt investor sentiment. The most active TOCOM rubber contract for November delivery settled down 7.0 yen at 255.3 yen per kg. It had broken through the recent low marked the previous day of 257.9 yen to fall as low as 254.7 yen, the lowest since November 11.
The TOCOM market fell for the past four weeks in a row, making its total decline to 18.7 percent. The most active Shanghai rubber contract for September delivery closed down 405 yuan at 23,610 yuan per tonne. The front-month June rubber contract on the SICOM in Singapore was last traded at 305 US cents per kg, down 10 cents. "Weak manufacturing data from China pulled down the TOCOM market today," said Toshitaka Tazawa, analyst at commodity trading house Fujitomi.