Benchmark Tokyo rubber futures erased early losses and rose for a second straight session on Thursday, as the yen turned weaker against the dollar during the session. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, hit a seven-year low on Tuesday, but have since recovered nearly 9 percent helped by a Thai measure to buy rubber to support farmers.
The Tokyo Commodity Exchange rubber contract for June delivery finished 2.3 yen higher at 157.3 yen per kg, after falling more than 2 percent in early morning trade. It touched an intraday peak of 157.5 yen, the highest since January 4. The most-active rubber contract on the Shanghai futures exchange for May delivery rose 60 yuan to finish at 9,885 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 108.50 US cents per kg, up 0.5 cent.
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