Rubber down

Benchmark Tokyo rubber futures inched down on Wednesday as investors booked profits after it touched a 13-month high in the previous session, but higher oil prices capped losses, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery finished 0.8 yen, or 0.4 percent, lower at 223.1 yen ($1.86) per kg.
TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, hit its highest since April 9, 2014 the previous day after breaking this year's high of 226.7 yen hit on March 2. The most-active rubber contract on the Shanghai futures exchange for September delivery finished at 14,710 yuan ($2,370.86) per tonne, up 5 yuan. It earlier rose to as high as 14,865 yuan.