Tokyo rubber falls; Shanghai up

Tokyo rubber futures fell to a one-week low on Tuesday, tracking falls in oil prices, with concern about the euro debt crisis adding to the downward pressure on prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery fell 6.2 yen, or 1.7 percent, to settle at 363.2 yen ($4.53) per kg.
It hit an intra-day low of 362.7 yen, the lowest since July 4. The most active rubber contract on the Shanghai commodity exchange rose 160 yuan to finish at 33,825 yuan ($5,230) per tonne.
"Rubber sentiment was not that good as it was weighed down not only by falling oil prices, but also by concerns about euro debt that encouraged players to liquidate contracts to avoid risks," one dealer said. Dealers said TOCOM rubber could fall further on Wednesday as worries about the euro debt crisis were not going away.