Tokyo rubber futures hit four-month low

Bangkok  (march 16, 2011) : tokyo rubber futures tumbled 12 percent to a four-month low on tuesday as the impact of japan's largest-ever earthquake deepened concern about a weaker economy and demand for rubber, dealers said. the benchmark rubber contract on the tokyo commodity exchange for august delivery fell 31.1 yen to settle at 353.0 yen ($4.32) per kg. it fell as much as 12 percent to an intraday low of 335.0 yen, the lowest since november 4.
the most active shanghai rubber futures for may delivery fell 325 yuan to settle at 33,155 yuan ($5,046) per tonnes. tocom widened the trading band for rubber futures to 50 yen a kg on monday after heavy losses following the earthquake. for rubber trading, a circuit breaker is triggered when prices swing more than 10 yen, suspending trading temporarily. the world's top rubber-producing countries, thailand, indonesia and malaysia are to hold an urgent meeting this week.

(Source: http://www.brecorder.com/news/agriculture-and-allied/world/1166757:tokyo-rubber-futures-hit-four-month-low.html?hl=rubber)