TOKYO (Feb 6): Benchmark Tokyo rubber futures extended decline on Tuesday, coming under pressure from sharp losses in Shanghai futures and weak oil prices, brokers said.
The Tokyo Commodity Exchange rubber contract for July delivery finished 3 yen lower at 193.7 yen (US$1.77) per kg.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 425 yuan, or 3.3%, to finish at 12,585 yuan (US$2,005) per tonne.
Oil prices slumped, extending falls from the previous session, as global financial markets tumbled in the wake of one of the biggest intra-day falls ever registered on Wall Street.
The front-month rubber contract on Singapore’s SICOM exchange for March delivery last traded at 146.5 US cents per kg, down 2.8 cents.
(US$1 = 6.2775 Chinese yuan)
(US$1 = 109.2200 yen)
