TOKYO, Oct 17 (Reuters) – Benchmark Tokyo rubber futures hit a 3-1/2-month low on Tuesday, taking a cue from weak Shanghai futures, which have been weighed down by rising output in major producers such as Thailand and Vietnam, brokers said.
The Tokyo Commodity Exchange rubber contract for March delivery finished 5.4 yen lower at 195.6 yen ($1.74) per kg after touching 193.5 yen earlier, the lowest since July 6.
Japan’s Bridgestone Corp said it would invest 266 million euros ($313 million) in three key production lines in Spain and Poland, with all upgrades being completed by early 2022.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 90 yuan to finish at 13,530 yuan ($2,046) per tonne, after touching a near one-week low and coming within 2 percent of a 2-1/2-month low hit in late September.
The front-month rubber contract on Singapore’s SICOM exchange for November delivery last traded at 141.90 U.S. cents per kg, down 2.5 cents. ($1 = 0.8491 euros) ($1 = 112.2300 yen) ($1 = 6.6144 Chinese yuan)
(Reporting by Osamu Tsukimori; Editing by Subhranshu Sahu)
