Tokyo and Shanghai rubber decline

Key Tokyo rubber futures settled nearly flat on Thursday, with investors lacking fresh incentives to break out of ranges and as worries about the yen's strength and weak technicals weighed on sentiment. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery settled at 362.2 yen per kg, down 0.2 yen on the day.
The most active Shanghai rubber contract for January delivery fell 1 percent to close at 33,745 yuan ($5,283.305) per tonne. Volume rose to 670,662 lots from Wednesday's 574,662 lots. The rubber market has stayed below key technical levels over the past week, such as the 50-day moving average which on Thursday stood at 375.5 yen. Worries about global growth weighed on commodities broadly.