Benchmark TOCOM rubber futures fell around 1 percent on Thursday after three days of gains, pressured by a stronger yen and weaker oil prices. The Tokyo Commodity Exchange rubber contract for May delivery had fallen 2.8 yen to 240 yen per kg by 0005 GMT, after settling up 1 percent on Wednesday.
Global natural rubber prices are likely to remain firm in the short term due to stronger crude oil prices and as consumption growth outpaces production, a group of producers said on Wednesday. Consumption of natural rubber among members of the Association of Natural Rubber Producing Countries (ANRPC) rose 4.3 percent to 7.387 million tonnes in January-November, while production increased only 0.4 percent, Nguyen Ngoc Bich, secretary-general of ANRPC, said in a statement.
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