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Tokyo rubber inches lower on Aug.22

Tokyo Commodity Exchange (TOCOM) futures ended slightly lower on Thursday amid concerns about global slowdown and oversupply of the commodity in Asia after top producers did not extend exports curbs. The benchmark TOCOM rubber contract for January delivery finished 0.1 yen lower at 168.2 yen ($1.58) per kg. "Lingering worries that the global economy may be headed to a recession have kept weighing on market sentiment," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.

"Protracted US-Sino trade row and an end of export curb by top rubber producers were also behind the bearish trend," Kikukawa said, predicting that the market might fall toward August's low of near 160 yen mark. World's top producers of natural rubber are not extending curbs on exports of the commodity, two sources with knowledge of the matter told Reuters on Monday.

The most-active rubber contract on the Shanghai futures exchange for September delivery finished unchanged at 11,435 yuan ($1,616) per tonne. China's technically specified rubber (TSR) 20 futures contract was last up 35 yuan at 9,910 yuan per tonne. TOCOM's TSR 20 futures contract for February delivery closed flat at 145.4 yen per kg, remaining at the same level for a fifth straight session in light trade.

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