Natural rubber futures in Tokyo declined, giving up the previous day’s gains, pressured by weak crude oil prices.
The physical market supplies from Indonesia might decline due to wintering.
Malaysian rubber prices rebounded today to close steady. Rally on the Tokyo futures contract prices is one of the factor which pulled the market.
Crude oil in New York extended decline after falling 11% in July. The oil prices fell further towards $123 on Friday.
Tokyo Commodity Exchange:
Rubber for January 2009 delivery traded at 327.1 yen per kilogram, 5.4 yen down.
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