Tokyo rubber futures fell to the lowest in almost three weeks on Monday, tracking falls in other commodities, but dealers said TOCOM prices could try to rally after the benchmark found support at 380 yen per kg. The benchmark rubber contract on the Tokyo Commodity Exchange fell 3.7 yen to settle at 380 yen ($4.730) per kg.
It hit an intra-day low of 377.1 yen per kg, the lowest since May 24. "Rubber prices just fell in line with oil prices and other commodities, where sentiment was not that good today," said a Tokyo-based dealer. The most active Shanghai rubber contract for September delivery fell 360 yuan to finish at 32,685 yuan ($5,043) per tonne.
Dealers said TOCOM could rebound on Tuesday since the strong support at 380 yen per kg held, while limited supply in producing countries should also help. Heavy rain persisted in the south of Thailand, the world's biggest rubber-producing country, disrupting tapping and cutting supply.
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