Rubber prices fall further

Rubber prices fall further

SINGAPORE (Reuter): Rubber futures widened Friday's losses to end yesterday's morning session lower on early Tokyo slide and reflecting weaker Indonesian values over the weekend.

Traders said most nearby TSR20, RSS1 and RSS3 were marked down by two and three cents this morning from their last settlements. Dealings were light.

By 04:45 GMT, Oct-RSS3 was indicated at 134 U.s. cents a kg against 137-138 cents on Friday.

The Tokyo market was lower, erasing some of last week's gains, as the rising U.S. dollar retreated against the yen.

Traders said the cash markets were also looking lower with no strong demand to back recent strength.

"There is some selling pressure in TSR20 grades and the sheet rubber could be lower if not for the rains," one trader said.

Traders said the seasonal rise in production and poor demand could contribute to a lower market in the near-term. "It is difficult to see a lot of upside potential," the trader said.