Tokyo Commodity Exchange (TOCOM) futures slid on Thursday, as oil prices surrendered gains from previous sessions on signs that both Iran and the United States were keen to de-escalate their military conflict.
TOCOM's rubber contract for June delivery finished 1.6 yen lower at 201.0 yen ($1.84) per kg. The most-active rubber contract on the Shanghai futures exchange for May delivery fell 200 yuan to finish at 12,965 yuan ($1,870) per tonne. China's new technically specified rubber (TSR) 20 futures contract was last down 155 yuan at 10,705 yuan per tonne.
The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 147.4 US cents per kg, down 1.6%. US President Donald Trump on Wednesday tempered days of angry rhetoric and suggested Iran was "standing down" after it fired missiles at US forces in Iraq, as both sides looked to defuse a crisis over the US killing of an Iranian general.
Oil prices came down to lower levels than they were before the killing of the Iranian commander, Qassem Soleimani, in Baghdad, a strike that raised fears of an escalating regional conflict.
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