TOKYO, June 20 (Reuters) - Benchmark TOCOM rubber futures extended declines to a near one-week low on Tuesday, after the world's No.2 producer Indonesia said it is not worried about a recent slump in prices as market fundamentals remain strong.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for November delivery fell 1.6 yen to 193.6 yen ($1.73) per kg by 0027 GMT, after touching 191.9 yen, the lowest since June 14.
* Moenarji Soedargo, chairman of the Indonesian Rubber Association(Gapkindo), said supply/demand fundamentals are healthy and Gapkindo was not worried about prices. He was commenting after a weekend meeting of the main international rubber producer group, held in Indonesia.
* Soedargo declined to give details of discussions at the gathering, where producers had been expected to talk about rubber prices that touched seven-month lows early this month, partly due to a slowdown in imports by top consumer China.
* He said the market is currently being affected by technical factors that are putting pressure on prices.
MARKET NEWS
* Oil prices fell about 1 percent on Monday to a seven-month low as rising crude production in the United States, Libya and Nigeria undercut OPEC-led efforts to support the market with output curbs.
* The U.S. dollar was quoted around 111.72 yen, compared with around 110.95 yen on Monday afternoon.
* Japan's benchmark Nikkei stock average was up 1.2 percent.
* Zinc prices touched a two-week high on Monday as expectations of stronger demand from steelmakers rose and inventories of the metal hit nine-year lows.
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