Tokyo rubber near two-week high

Tokyo rubber futures firmed on Tuesday, hovering near their highest level in almost two weeks, helped by a weaker yen. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery added 1.0 yen per kg to 337.6 yen, having hit a high of 345.4 yen on Monday, its strongest since May 27 when it hit a 28-year high of 345.9 yen.
Japan's crude rubber stocks fell 2.6 percent to 11,490 tonnes as of May 20, compared with previous data taken 10 days earlier, the Rubber Trade Association of Japan said on Monday. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 9 percent to 18,995 tonnes in the week ended June 5 from 20,875 tonnes the previous week, extending a 17 percent drop in the week ended May 29.