Tokyo rubber futures tumbled nearly 4 percent to a 1-1/2 month low on Thursday, tracking falling share prices and weaker Shanghai rubber futures, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery fell 9.3 yen to settle at 247.7 yen ($2.50) per kg. It fell as much as 10.2 yen, or 3.9 percent, to an intra-day low of 246.8 yen per kg, the lowest since April 19.
"TOCOM prices fell in line with share prices, and weaker Shanghai futures prices was another negative factor that encouraged investors to continue to sell TOCOM contracts," said a Tokyo-based dealer. The most-active rubber contract on the Shanghai futures exchange for September delivery fell 750 yuan to settle at 18,240 yuan ($3,000) per tonne. The front-month July contract on Singapore's SICOM Exchange was last traded at 235 US cents per kg, down 4 cents. However, dealers said, TOCOM prices were supported by falling rubber stocks.
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