Rubber down

Benchmark Tokyo rubber futures ended down 2.4 percent on Monday, marking the first decline in three sessions, amid uncertainty whether the producers' group can come up with measures to bolster prices amid excess supply and weak demand, dealers said. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, deepened losses in the afternoon, though global crude prices turned higher.
Market participants are closely watching the outcome of a planned meeting by producers, including Thailand, Indonesia and Malaysia, this week to discuss measures to support prices. The Tokyo Commodity Exchange rubber contract for July delivery finished 5.3 yen lower at 216.9 yen per kg. The benchmark contract fell to an intraday low of 216.2, the lowest since last Thursday.