Tokyo rubber falls

Benchmark Tokyo rubber futures fell on Friday, tracking losses in Shanghai futures, as traders hiked short positions, and amid lingering worries over oversupply and weak demand. The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery finished 1.5 yen ($0.0137) lower at 185.6 yen per kg. The TOCOM futures, which set the tone for rubber prices in Southeast Asia, dropped 0.8 percent on week.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 190 yuan ($29.99) to finish at 11,290 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 138.9 US cents per kg, down 0.1 cent. "There was an increase in short positions, which pressured the prices," said Li Dongling, an analyst with First Futures. "And demand in May was expected to be weak." Crude rubber inventories at Japanese ports stood at 16,357 tonnes as of April 10, up 4.9 percent from the last inventory date, according to data from the Rubber Trade Association of Japan.