Tokyo rubber futures slipped nearly 2 percent on Monday as a sharp selloff in Shanghai stock market heightened concerns over weakening demand from top consumer China, dealers said. The benchmark November contract on TOCOM settled down 4.7 yen at 231.6 yen ($2.38) per kg, lowest closing price since June 13. It was dragged down by a fall in Shanghai rubber market which was hit by plunging share prices.
The most-active rubber contract on the Shanghai futures exchange for September delivery ended down 445 yuan at 16,905 yuan ($2,800) per tonne. The front-month July rubber contract on Singapore's SICOM exchange was last traded at 221.5 US cents per kg, down 7 cents.