TOKYO: Japanese rubber futures fell to a near 1-month low on Monday as weaker automobile productions due to global chip shortages fuelled fears over slow demand for the material, while sliding Shanghai futures also weighed on sentiment. The Osaka Exchange rubber contract for March delivery was down 1.3 yen, or 0.6%, at 219.9 yen ($1.5) per kg as of 0259 GMT. It dove to the lowest since Sept 26 of 219.4 yen earlier in the session. The rubber contract on the Shanghai futures exchange for January delivery was down 30 yuan, or 0.2%, at 12,335 yuan ($1,701) per tonne, after hitting the lowest since Sept. 9 of 12,280 yuan earlier in the session.
Toyota Motor Corp said on Friday its annual vehicle production was likely to come in below its initial target, as a persistent global semiconductor shortage hampers efforts by the world’s biggest car maker by sales to boost output.