Benchmark Tokyo rubber futures edged lower on Friday, weighed down by profit-taking after a three-day rally and weaker Tokyo stock prices, but managed to post their biggest weekly gain in three months. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, had fallen nearly 40 percent by early November since hitting this year's high in early June on growing fears about slowing demand in top buyer China.
The TOCOM rubber contract for May delivery finished 0.6 yen lower at 170.1 yen ($1.39) per kg on Friday. For the week, the contract gained 4.5 percent, marking the biggest weekly increase since early September. It hit a high of 171.7 yen on Thursday, the highest since October 19. The most-active rubber contract on the Shanghai Futures Exchange for May delivery fell 10 yuan to finish at 10,190 yuan ($1,591.99) per tonne.
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