Tokyo rubber futures ended higher on Thursday, heading for their 9th annual rise since the start of the decade, as bargain hunting and persistent worries about supply defied pressure from a strong yen. The most active contract on the Tokyo Commodity Exchange, currently June 2011, settled 3.4 yen a kg higher at 414.5 yen after a volatile session in the last trading day of the year.
Tokyo futures rallied to a record of 419.3 yen on Monday on supply disruptions blamed on rains in Southeast Asia, which has sent prices of tyre grade to all-time high at $5 a kg for the benchmark Thai RSS3 grade. TOCOM rubber was also heading for its biggest monthly rise since late 2009. The market will be shut on Dec. 31 and Jan. 3 for year-end break.
Shanghai rubber futures bounced from lows. The most active May contract ended at 36,545 yuan a tonne, up from Wednesday's close of 36,255 yuan. The contract struck a record around 38,900 yuan a tonne in November. Indonesia's SIR20 grade changed hands at 224.25 US cents.
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