Tokyo, Shanghai rubber fall

Key Tokyo rubber futures inched lower on Monday on demand concerns due to uncertainty over the US economic outlook, though supply worries were likely to limit losses. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery eased 1.9 yen or 0.5 percent to settle at 377.9 yen per kg.
The most active Shanghai rubber contract for September delivery fell 115 yuan to close on Monday at 33,290 yuan ($5,144.637) per tonne. The technical outlook remained bearish as the benchmark settled below a key level of 380 yen for the second session in a row and also settled below the 20-day moving average of 385.7 yen. But traders say prices are likely to be supported due to heavy rain in Thailand, the world's biggest producer, which disrupted tapping and cut supply. A few cargoes of tyre grade rubber changed hands for July and August shipment at around $4 a kg, and main consumer China began showing some interest after a long absence although no business was reported, dealers said on Friday.