Tokyo rubber futures slip

Key Tokyo rubber futures fell 1 percent on Tuesday as declines in the Shanghai market prompted profit-taking, but support remained firm due to supply concerns. The key Tokyo Commodity Exchange rubber contract for June delivery settled at 453.4 yen per kg, down 4.9 yen or 1 percent.
The contract hit a record high of 460.4 yen on Monday, with traders expecting further gains on mounting concerns over supply tightness with demand solid in emerging countries. The most active Shanghai rubber futures contract for May delivery closed at 38,125 yuan ($5,782) per tonne, down 0.4 percent. Volume stood at 726,428 lots.