Rubber tumbles

Benchmark Tokyo rubber futures tumbled to 10-week lows on Monday, weighed down by more than 4 percent drop in Shanghai futures and worries about global impact from Greek financial crisis, dealers said. The Tokyo Commodity Exchange rubber contract for December delivery finished 3.9 yen, or 1.8 percent, lower at 215.3 yen ($1.76) per kg. It earlier slid to a low of 214.3 yen, the lowest since April 28.
The most-active rubber contract on the Shanghai futures exchange for September delivery plunged 600 yuan, or 4.5 percent, to finish at 12,735 yuan ($2,051.09) per tonne. It dipped earlier to as low as 12,610 yuan, the lowest since April 16. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 148.9 US cents per kg, down 3.4 cent.