Tokyo Commodity Exchange (TOCOM) futures on Thursday surged nearly 5% to their highest in more than five months, as sharp gains in Shanghai market prompted fresh buys amid renewed optimism over the US-Sino trade talks after positive remarks from US President Donald Trump.
TOCOM's rubber contract for May delivery ended up 9.3 yen, or 4.9%, at 198.0 yen ($1.82) per kg. Earlier in the session, it hit 198.3 yen, its highest since June 24. The gain marked the biggest one-day leap since June 2017.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 455 yuan to finish at 13,200 yuan ($1,875) per tonne. China's new technically specified rubber (TSR) 20 futures contract was last up 430 yuan at 11,150 yuan per tonne.
The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 146.3 US cents per kg, up 2.8%.
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