TOKYO: Japanese rubber futures gained for a fifth straight session on Friday, as Shanghai futures rallied and foreign funds joined the buying bandwagon, with optimism around improving Chinese demand aiding sentiment. Osaka Exchange's (OSE) rubber contract for January delivery finished 2.8% higher at 177.7 yen ($1.68) per kg. It hit the highest since Feb. 28 of 179.4 yen earlier in the session.
The most-active rubber contract on the Shanghai futures exchange for January delivery rose 290 yuan to finish at 12,535 yuan ($1,802) per tonne, after reaching as high as 12,700 yuan, the highest since January this year. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 131.6 US cents per kg, up 1.4%.
Comments
Comments are closed for this article.