TOKYO, July 11 (Reuters) - Benchmark TOCOM rubber futures inched down on Tuesday, extending losses into a second straight day, as investors remained bearish amid lingering worries about oversupply in Asia.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for December delivery was down 0.2 yen at 196.3 yen ($1.72) per kg as of 0030 GMT, after dropping 0.6 yen the previous day.
* China's producer price inflation was unchanged in June and remained well off highs seen earlier this year, amid lingering oversupply issues in the steel sector and as signs of economic weakness weighed on the outlook for prices.
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MARKET NEWS
* The U.S. dollar climbed to a 2-month high against the yen on Monday after the Bank of Japan last week offered to buy an unlimited amount of bonds and following an unexpected drop in May in Japanese machinery orders that pressured the yen. It was quoted around 114.23 yen in early Tuesday.
* Japan's benchmark Nikkei stock average edged higher on Tuesday after global equity markets rallied the previous day and helped by a weaker yen.
* Oil prices rose modestly on Monday, but increased drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook.
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