Rubber extends losses

Benchmark Tokyo rubber futures hit a two-week low on Tuesday, extending losses into a fourth straight session, as investors unwound long positions amid nagging worries about oversupply and on weaker commodity prices and slumping Tokyo equities. The Tokyo Commodity Exchange (TOCOM) rubber contract for May delivery finished 4.1 yen, or 2.5 percent, lower at 162.1 yen ($1.34) per kg, after touching its lowest level since December 1 at 161.9 yen earlier in the session.
The most-active rubber contract on the Shanghai Futures Exchange for May delivery fell 60 yuan to finish at 10,120 yuan ($1,566.56) per tonne. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 115.3 US cents per kg, down 0.8 cent.