Benchmark Tokyo rubber futures retreated on Tuesday from a two-month high as investors took profits following an overnight plunge in oil prices, while weaker Shanghai futures added to the pressure. The Tokyo Commodity Exchange rubber contract for May delivery finished 2.8 yen, or 1.6 percent, lower at 170.8 yen ($1.39) per kg after hitting 174.8 yen, the highest since October 15, in the previous evening session.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 125 yuan to finish at 10,200 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 117.0 US cents per kg, down 1.3 cents.
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