Rubber eases

Benchmark TOCOM rubber futures fell for a third consecutive session on Friday and were poised for a decline of about 20 percent this year with plentiful supplies across Asia weighing on the market. The Tokyo Commodity Exchange rubber contract for June delivery closed down 1.4 percent at 206.7 yen per kg. Key Shanghai futures ended trading 0.2 percent lower at 14,105 yuan per tonne. Ample supplies in key producing countries and weak demand have weighed on rubber prices this year.
Rubber was one of the best performing commodities in 2016 with a gain of more than 65 percent but prices have taken a hit this year with the Tokyo market set to end 2017 with a decline of about 20 percent.