Tokyo Commodity Exchange (TOCOM) futures slumped to a 1-week low on Monday while the Shanghai market plunged over 9% on its first trading day after a long break amid fears the coronavirus outbreak will dent demand in the world's top rubber buyer. TOCOM's rubber contract for July delivery finished 8.2 yen, or 4.5%, lower at 173.0 yen ($1.58) per kg, after hitting the lowest since January 27 of 170.5 yen earlier in the session.
The most-active rubber contract on the Shanghai Futures Exchange (ShFE) for May delivery tumbled 1,105 yuan, or over 9%, to finish at 11,145 yuan ($1,614) per tonne, booking the biggest one-day percentage loss since October 2008. It plunged at the open in its first session since January 23.
The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 128.1 US cents per kg, down 4.5%, marking the lowest since Oct. 30, 2019.