Benchmark Tokyo rubber futures fell for a fourth straight day on Friday, touching a 10-day low and marking the biggest weekly drop in about three months, as investors continued to adjust positions from a recent rally that sent prices to 6-month highs.
The Tokyo Commodity Exchange (TOCOM) rubber contract for March delivery finished 2.2 yen lower at 173.9 yen ($1.67) per kg, after hitting its lowest since October 11 of 173.5 yen. For the week, it lost 5.1 percent, the steepest slide since late July. The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, surged 24 percent from August 25 low of 148.6 to Monday's high of 184.6 yen. The most-active rubber contract on the Shanghai futures exchange for January delivery slipped 140 yuan to finish at 13,660 yuan ($2,020.38) per tonne.
