Benchmark Tokyo rubber futures fell on Friday to the lowest since mid-December and lost nearly eight percent for the week, as softer Shanghai futures led the way and as investors adjusted positions ahead of an expiration of nearest contract on Monday.
The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 2.6 yen, or 1 percent, lower at 247.4 yen ($2.22) per kg, after hitting the weakest since December 12 of 245.5 yen earlier in the session. For the week, it booked a 7.7 percent loss.
The most-active rubber contract on the Shanghai futures exchange for September delivery slid 210 yuan to finish at 16,865 yuan ($2,447) per tonne. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange were unchanged, the exchange said on Friday. The TOCOM's March contract is due to expire on Monday. The front-month rubber contract on Singapore's SICOM exchange for April delivery last traded at 188.1 US cents per kg, down 5.3 cent.
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