Benchmark Tokyo rubber futures climbed for a second day on Thursday as bargain hunters helped boost the prices and as investors covered short positions after the Federal Reserve said the economy and job market continue to strengthen. The Tokyo Commodity Exchange rubber contract for January delivery finished 1.7 yen, or 0.8 percent, higher at 206.6 yen ($1.66) per kg.
"As the Fed's statement confirmed healthy trend of the US economy, investors felt relieved to cover short positions," said Satoru Yoshida, a commodity analyst at Rakuten Securities. The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 140.0 US cents per kg, down 0.9 cent.
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