Benchmark Tokyo rubber futures ended down on Tuesday, slipping from a five-month high hit in the previous session, on profit-taking and weaker Shanghai futures, dealers said.
The Tokyo Commodity Exchange (TOCOM) rubber contract for March delivery finished 0.7 yen lower at 183.0 yen ($1.78) per kg. In the previous session, it touched a high of 184.6 yen, the highest since May 9.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 25 yuan to finish at 14,340 yuan per tonne, after falling to a low of 14,125 yuan earlier in the session.
"It seems a few investors with short positions were still trying to unwind their positions, which limited losses in the TOCOM in an afternoon trade," said Toshitaka Tazawa, analyst, Fujitomi Co.
The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, recovered some ground after dropping to a low of 180.6 yen in early trade.
The market was also supported by speculations that output in rubber may be affected in Thailand, the world's top rubber producer, if there is turmoil after the death of King Bhumibol Adulyadej, dealers said.
The world's longest-reigning monarch, King Bhumibol died on Thursday in a Bangkok hospital at the age of 88.
On the downside, crude rubber inventories at Japanese ports rose 2.9 percent to 8,034 tonnes by Sept. 30 from the last inventory date, data from the Rubber Trade Association of Japan showed on Tuesday.
The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 151.1 U.S. cents per kg, down 0.5 cent.
