Key Tokyo rubber futures eased on Thursday on concerns over the global economic outlook, erasing gains made earlier on the yen's drop after authorities intervened to stem the currency's sharp appreciation. The key Tokyo Commodity Exchange rubber contract for January delivery inched down 0.6 yen to settle at 390.5 yen per kg.
The most active Shanghai rubber contract for January delivery closed nearly flat at 35,680 yuan ($5,545.453) per tonne on Thursday, compared to the previous close of 35,685 yuan. Volume picked up to 503,444 lots from Wednesday's 452,264 lots. Traders said concerns about global growth and a sluggish Shanghai market weighed on sentiment, helping to wipe out gains made on a weakening yen. A weaker yen inflates the value of yen-priced TOCOM rubber futures.