By Lucy Craymer
Asian rubber prices Monday were mixed as external factors continued to be major drivers of market prices.
Prices on both the Tokyo and Shanghai exchanges fell as markets were broadly weaker.
Oil prices slid after a weekend meeting of members of the Organization of the Petroleum Exporting Countries failed to cement a deal to cut production. In September, the oil cartel reached an agreement to reduce output by as much as 2%.
A detailed proposal is now expected to be submitted to OPEC's 14 member nations on Nov. 30. Drops in crude-oil prices typically weigh on the natural-rubber market, as oil is the main feedstock for synthetic rubber.
Also Monday, Asian shares were mixed, weighed on byU.S. losses against a backdrop of expectations for a narrowing gap between the two major-party U.S. presidential candidates in the run-up to next week's election.
Elsewhere, the Sicom rubber futures contract for Ribbed Smoked Sheets ended slightly higher on low volumes.
Asian Rubber Futures
Oct 31 Change from previous close
Tocom Apr RSS3 Y183.5/Kg Down Y0.4/Kg
Shanghai Jan SCR5 CNY14,170/Ton Down CNY20/Ton
Sicom Dec RSS3 US 174.0 cents/Kg Up US 3.2 cents/Kg
Sicom Dec TSR20 US 148.7 cents/Kg Down US 0.1 cents/Kg
USS Oct THB54.75-THB55.29/Kg THB54.59-THB54.86/Kg
Write to Lucy Craymer at firstname.lastname@example.org, @lucy_craymer
(END) Dow Jones Newswires
October 31, 2016 07:03 ET (11:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.