Tokyo rubber futures extend declines

Benchmark Tokyo rubber futures extended declines for a fourth session on Friday, as lacklustre economic indicators in North Asia raised worries over rubber consumption, despite ongoing production curbs by Asia's top producers to support prices. The Tokyo Commodity Exchange rubber contract for August delivery finished 2.5 yen lower at 168.9 yen
($1.49) per kg, marking a 8.5 percent slide from a 6-1/2-month high hit on Monday. For the week, it fell 3.3 percent. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, rose 15.7 percent over five sessions till Monday, aided by export cuts from top Asian producers, and as oil prices continued to recover while fears over slowing growth in the Chinese economy eased. But the market has fallen since Tuesday, when China's sluggish trade data re-ignite worries over the world's top consumer's economy.