Rubber futures in Tokyo commodity exchange fell more than one percent to a two and a half month low. The benchmark rubber contract for January delivery is below 300-yen level, pressured by weak crude oil and gold prices. The key contract has fallen about 16% from a 28-year high of 356.9 yen. Rubber decline in Tokyo commodity exchange is a part of weak commodities prices including gold and crude oil, poor performance of stock market, economic downtrend etc.
U.S. crude oil futures fell to nearly $112 a barrel. The dollar was trading at around 109.78 yen. Asian physical rubber prices were lower reflecting a decline in Tokyo futures prices.
Tokyo Commodity Exchange:
Rubber for January 2009 delivery traded at 297.2 yen per kilogram, 5.5 yen down.
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