Rubber hits fresh seven-year low

Benchmark Tokyo rubber futures hit a fresh seven-year low on Tuesday as investors stepped up selling on fears over Beijing's ability to revive its economy and plunging oil prices, but reports that Thai government may help rubber farmers limited the losses. The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 2.6 yen, or 1.7 percent, lower at 146.9 yen ($1.25) per kg. It earlier touched a low of 144.5 yen, the lowest since March 19, 2009.
The most-active rubber contract on the Shanghai futures exchange for May delivery dipped 295 yuan to finish at 9,640 yuan ($1,466.07) per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 106.7 US cents per kg, down 0.7 cent.