Benchmark Tokyo rubber futures rose on Thursday, snapping two days of losses, as higher physical prices in Thailand and a drop in the yen against the dollar lent support, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 2.5 yen, or 1.2 percent, higher at 212.0 yen ($1.91) per kg.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 35 yuan to finish at 14,165 yuan ($2,205) per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 152.1 US cents per kg, down 0.5 cent.
"Higher offer prices by producers in Thailand also supported the market," said Toshitaka Tazawa, an analyst at commodities broker Fujitomi Co, noting that a reduction in exports by top producers may be having an effect.
Comments
Comments are closed for this article.