Benchmark Tokyo rubber futures fell on Thursday, dragged down by weaker Shanghai futures, but lingering worries over tighter supply from top producer Thailand curbed losses. The Tokyo Commodity Exchange rubber contract for July delivery finished down 1.3 yen at 307.7 yen ($2.74) per kg. The most-active rubber contract on the Shanghai futures exchange for May delivery slid 130 yuan to finish at 20,585 yuan ($2,998.67) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 220.0 US cents per kg, down 1.6 cent.
"It seems both Tokyo and Shanghai markets have run out of steam after recent gains, and there is no clear direction in the markets," said Kaname Gokon, strategist, Okato Shoji Co Ltd. But persistent concerns over reduced supply from top producer Thailand and low inventories in Tokyo are supporting the prices, he added.
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