Tokyo and Shanghai rubber higher

Key Tokyo rubber futures erased earlier losses and ended up 1 percent on Monday, lifted by rises in the Shanghai market, but market activity is seen slowing this week ahead of the Lunar New Year holiday in China. The key Tokyo Commodity Exchange rubber contract for June delivery settled up 2.7 yen at 280.3 yen after touching a one-week low of 271 yen.
"The solid Shanghai market lifted TOCOM prices before the close, but investors will find it hard to make large bets later this week ahead of the Chinese New Year break," said a trader. The most active Shanghai rubber contract for May delivery closed up 2.1 percent at 25,580 yuan ($4,100) per tonne. Volume stood at 994,962 lots.