Benchmark Tokyo rubber futures snapped a two-day losing streak on Friday on the back of a weaker yen against the dollar, but posted a fourth-straight week of declines amid increasing worries over oversupply. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, traded near a 10-week low hit a day earlier.
"High stockpiles in Asia have been weighing on the market," said a Japanese trading source. The Tokyo Commodity Exchange rubber contract for November delivery
finished 0.5 yen higher at 180 yen ($1.62) per kg, ending the week with a 3.3 percent loss. The dollar edged up 0.1 percent to 110.720 yen.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 30 yuan to finish at 10,790 yuan ($1,682) per tonne, recovering slightly from a near two-year low hit on Wednesday. Singapore's SICOM exchange was closed on Friday for a holiday.