Rubber pares gains

Benchmark Tokyo rubber futures extended gains on Tuesday and hit a one-week high but the gains were limited as Shanghai futures trimmed their strong gains earlier in the day after China's yuan rose to a near three-week high. The Tokyo Commodity Exchange rubber contract for May delivery finished 0.7 yen higher at 240.4 yen ($2.11) per kg.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 260 yuan to finish at 18,565 yuan ($2,700) per tonne after gaining about 3 percent to hit a one-week high earlier in the session, as strong yuan hurt the sentiment. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 171.50 US cents per kg, up 0.1 cent.