Key Tokyo rubber futures recovered earlier losses to end slightly higher on Friday, as firm Shanghai rubber prices underscored a strong outlook for demand. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose as high as 469.5 yen, up 2.2 yen, or 0.5 percent, before settling at 469.1 yen.
It fell as much as 11.2 yen, or 2.4 percent, to 456.1 yen earlier, dragged lower by declines in broader commodity prices and as investors, wary of the recent rapid pace of price increases, closed positions. The market fell 1.4 percent in the week, posting its first weekly loss in a month. The benchmark contract hit a record peak of 474.8 yen on Monday. The most active rubber contract on the Shanghai futures exchange for May deliver rose as high as 40,945 yuan ($6,221) per tonne.
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