BANGKOK: Tokyo rubber futures slipped on Monday, tracking falls in oil prices, while persistent worry about global economic growth weighed on the market, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange for February delivery fell 2.6 yen to settle at 254.4 yen ($3.25) per kg.
The most-active rubber contract on the Shanghai rubber futures exchange for January delivery was down 575 yuan to settle at 23,565 yuan ($3,700) per tonne.
The front-month October rubber contract on Singapore's SICOM futures exchange was last traded at $2.87 cents per kg, down 0.4 cent.
"Players liquidated contracts to avoid risks as fears of falling demand amid a weak economy re-emerged," said a Bangkok-based trader.
Last week, commodities and stocks markets oscillated between rallying on stimulus action from central banks and falling as participants focused on the weak economic conditions that prompted those steps in the first place.
Dealers said easing oil prices and rising rubber inventories were additional negative factors that weighed on rubber futures prices.
Brent crude futures fell below $111 per barrel on Monday, dragged down by a firm dollar and worries about weak growth in main consumer nations.
Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 5.0 percent from last Friday, the bourse said on Friday.
However, dealers said TOCOM prices could rebound on Tuesday after prices finished above a major support level of 250 yen.
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