Tokyo rubber futures jumped 3 percent to a one-week high on Wednesday, tracking rises in stocks and oil prices, which were supported by upbeat US economic data, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 6.6 yen to settle at 277.9 yen ($3.57) per kg.
It rose as much as 3 percent to an intra-day high of 279.7 yen, the highest since December 14. "TOCOM sentiment improved as prices were supported by stocks and oil. However, the upside may still be capped by profit-taking," one dealer said.
Deliveries against the December rubber futures contract on the Tokyo Commodity Exchange edged up to 253 lots or 1,265 tonnes, the exchange said on Wednesday, from deliveries of the November contract at 229 lots a month earlier. The December TOCOM rubber futures contract expired at 259.6 yen per kg, up 4.1 percent from November contract's expiry price of 249.3 yen. The newly listed June contract will be the benchmark when it starts trading on Thursday.
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