TOCOM rises on hopes of export curbs, trade deal

BEIJING: Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, jumped on expectations of curbs on exports from major producers and a trade deal between China and the United States

The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery  finished 6.2 yen ($0.0560) higher at 199.8 yen per kg

The most-active rubber contract on the Shanghai futures exchange for May delivery rose 40 yuan ($5.97) to finish at 12,445 yuan per tonne

The U.S. dollar was quoted around 110.65 yen, compared with around 110.68 yen on Friday day afternoon

Oil prices dipped on Monday, dragged down by plentiful supply as U.S. exports soar and compete with traditional producers from the Middle East in key markets such as Asia

TOCOM's technically specified rubber (TSR) 20 futures contract for August delivery closed up 5.7 yen at 170.2 yen per kg

The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 144.8 U.S. cents per kg, up 0.1 percent

The world's top producers of natural rubber said on Friday they would curb exports by up to 300,000 tonnes in a bid to prop up global prices for the commodity

President Donald Trump said on Sunday that he would delay an increase in U.S. tariffs on Chinese goods thanks to "productive" trade talks.