Tokyo rubber futures succumbed to profit-taking on Wednesday, losing ground for the second day in a row since hitting their highest level in almost eight years.
The benchmark August 2004 rubber contract on the Tokyo Commodity Exchange (TOCOM) settled down 4.0 yen per kg at 159.5 yen.
One Tokyo-based broker said that apart from profit-taking, the decline of other commodities on domestic futures markets had put pressure on TOCOM rubber.
Turnover in TOCOM rubber was estimated at 7,822 lots, compared with 9,432 lots on Tuesday and 11,705 lots on Monday.
Open interest stood at 58,469 lots as of the end of Tuesday, versus 58,112 lots on Monday and 58,161 lots on Friday.
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