Print Print edition: 2016-12-10

Rubber up

Published December 10, 2016 Updated December 10, 2016 12:00am

Benchmark Tokyo rubber futures ended up 2.1 percent on Friday, erasing early losses as Shanghai futures turned higher supported by firm oil prices. Tokyo Commodity Exchange (TOCOM) futures also found support as the dollar rose broadly along with US bond yields, and came within reach of a 10-month high of 114.830 set last week, dealers said.
"It looks as though TOCOM followed Shanghai higher as the yen weakened," said a Tokyo-based dealer.
Oil prices extended gains on Friday on optimism that non-Opec producers would agree to cut output following a cartel agreement to limit production, but the upside was limited amid uncertainty over the size of the production curbs.