The Tokyo Commodity Exchange (TOCOM) rubber contract slid on Monday, pressured by weaker Shanghai futures after cases of the new coronavirus in China rose and on fears that the pandemic has battered international demand.
TOCOM's rubber contract for September delivery finished 1.2 yen lower at 151.8 yen ($1.40) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 150 yuan to finish at 9,940 yuan per tonne.
The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 110.2 US cents per kg, down 1.3%.
Auto sales in China plunged an annual 43.3% in March, data showed on Friday, as the world's biggest auto market struggles to get into gear following a prolonged demand slump.
US-based Cooper Tire & Rubber said last week its plants in the United States and Europe would remain temporarily closed.
China's northeast Heilongjiang province, which borders Russia, has become the new battleground against the coronavirus as authorities reported the highest number of new daily cases in nearly six weeks, driven by infected travellers from overseas.
More than 1.7 million people have been reported to be infected by the novel coronavirus globally and 109,519 have died, according to a Reuters tally.
Japan's benchmark Nikkei stock average fell on Monday as investors worried about the impact of the coronavirus outbreak on corporate earnings.
Comments
Comments are closed for this article.