Tokyo rubber futures rose to their highest in nearly a week on Tuesday, but gains were limited by fears that China would take further action to cool commodity prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 2.9 yen to settle at 360.2 yen ($4.28) per kg, the highest since November 25.
The most active Shanghai rubber contract for May delivery rose 230 yuan to finish at 30,880 yuan per tonne on Tuesday. The Shanghai Futures Exchange said on November 25 it would raise margin requirements and widen daily price move limits on its contracts Dealers said TOCOM rubber could rise further on Wednesday after prices finished above the psychological level of 360 yen per kg.
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