Rubber down

Benchmark Tokyo rubber futures fell 3.6 percent to settle at a two-week low on Wednesday, as recent declines in oil prices and concern over excess global supply sapped sentiment. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also hurt by tepid futures trade in Shanghai, dealers said.
The Tokyo Commodity Exchange rubber contract for April delivery closed 7.2 yen lower at 192.6 yen per kg, its lowest settlement since October 21. It also hit an intraday low of 191.9, the lowest since October 22. The most-active rubber contract on the Shanghai futures exchange for January delivery fell 5 percent, or 650 yuan, to finish at 12,265 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 145.00 US cents per kg, down 6.6 cents.