Benchmark Tokyo rubber futures fell about 2 percent on Tuesday on profit taking after five sessions of gains, while a halt in the yen’s decline and caution over demand from China also weighed on prices that had risen to a two-month high. The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery settled at 287.6 yen ($2.8) per kg, down 6.4 yen from the previous close.
The October contract had risen a combined 16 percent in the previous five sessions, climbing as high as 299 yen on Monday, the strongest for any TOCOM benchmark since March 12. The most-active rubber contract on Shanghai futures exchange was down 400 yuan to 20,275 yuan ($3,300) per tonne. The front-month June rubber contract on Singapore’s SICOM futures exchange was last traded at 254 US cents per kg, down 6.5 cents.