TOCOM falls on high inventories, flat demand

BEIJING: Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, fell on Tuesday as weak fundamentals continued to weigh on prices

The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery  finished 2.4 yen ($0.0217) lower at 199.1 yen per kg.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 135 yuan ($20.17) to finish at 12,400 yuan per tonne.

The U.S. dollar was quoted around 110.86 yen, compared with around 111.16 yen on Monday afternoon

Oil inched lower on Tuesday to extend losses of more than 3 percent from the previous session, easing after U.S. President Donald Trump called on OPEC to rein in its efforts to boost prices.

Japan's benchmark Nikkei stock average was down 0.37 percent

TOCOM's technically specified rubber (TSR) 20 futures contract for August delivery closed down 1.4 yen at 168.8 yen per kg

The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 143 U.S. cents per kg, down 1.2 percent.