Tokyo rubber futures drop on weaker Shanghai market
Tokyo Commodity Exchange (TOCOM) futures ended a seven-session winning streak on Tuesday, tracking weaker Shanghai futures
TOCOM's rubber contract for April delivery finished 2.6 yen ($0.0239) lower at 188.2 yen per kg. The most-active rubber contract on the Shanghai futures exchange for January delivery fell 220 yuan ($31.25) to finish at 12,585 yuan per tonne.
China's new technically specified rubber (TSR) 20 futures contract was last down 175 yuan at 10,720 yuan per tonne.
The contract fell due to some technical correction after a sharp rise recently, said Wang Xiaoyang, senior analyst with Sinolink Futures.
TOCOM's TSR 20 futures contract for May delivery closed at 149.1 yen per kg.
The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 140.2 US cents per kg, down 1.1%.
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