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Tokyo rubber lower

  • Tokyo rubber futures ended lower on Tuesday on persistent supply glut fears and despite paring a fall to five-month lows on the back of firmer gold prices. The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for September delivery settled 1.5 yen lower at 257.5 yen ($2.6) per kg, having fallen to 247 yen, the lowest for any TOCOM rubber benchmark since November 15, 2012. 

    The contract has lost 7 percent over the past three days. In Shanghai, the most traded rubber futures for September delivery fell more than 6 percent during the session, because Monday’s close down by the daily loss limit left unsatisfied selling interest among investors. The contract ended down 645 yuan at 19,915 yuan ($3,200) per tonne on Tuesday after touching an intraday low of 19,260 yuan. The front-month rubber contract on Singapore’s SICOM exchange for May delivery last traded at 244.10 US cents per kg, up 0.8 cents. 

    Copyright Reuters, 2013

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