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Tokyo Commodity Exchange (TOCOM) futures slid for the seventh straight session on Monday, hitting their lowest in nearly three months, due to rising concerns that the spreading coronavirus in top buyer China will slow demand for the commodity.
TOCOM's rubber contract for June delivery finished 8.2 yen, or 4.5%, lower at 174.0 yen ($1.59) per kg, after touching the lowest since Oct. 30 at 170.0 yen earlier in the session.
"Quick spread of the disease over the weekend in China helped strengthen investor's risk-averse mode, prompting a flurry of fresh selling from the start of the day," said Jiong Gu, an analyst at Yutaka Shoji Co.