Tokyo, Shanghai rubber down

Tokyo rubber futures fell 2.5 percent on Thursday as concerns about the US debt stalemate encouraged players to liquidate contracts to avoid risk, with profit-taking after a recent rise adding to the downward pressure, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for January 2012 delivery fell 4.5 yen to settle at 391.5 yen ($5.02) per kg. It fell as much as 2.5 percent to an intraday low of 386.0 yen per kg.
The most active rubber contract on the Shanghai futures exchange for January delivery fell 740 yuan to finish at 35,540 yuan ($5,515) per tonne. "Players want to avoid risk, and uncertainty about the US debt crisis could mean falls in rubber demand," one dealer said.