Benchmark Tokyo rubber futures closed lower on Tuesday after hitting a six-month high earlier, following a plunge in oil prices and Japanese equities, and a stronger yen, brokers said. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have recovered some strength recently due to worries over lower production in flood-hit Malaysia and Thailand.
The Tokyo Commodity Exchange rubber contract for June delivery finished 0.2 yen lower at 214.2 yen per kg. It hit an intraday high of 215.5 earlier, the highest since July 3. The most-active rubber contract on the Shanghai futures exchange for May delivery rose 260 yuan to finish at 13,625 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 150.70 US cents per kg, down 0.6 cent.