Tokyo, Shanghai rubber rise

Tokyo rubber futures generally ended slightly higher on Thursday, supported by firm oil prices, but there was no momentum to push far because of global economic uncertainty and operators quickly took profits, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery rose 0.8 yen to settle at 362.2 yen ($4.7) per kg.
However, nearby August, which expired on Thursday, was down 1.3 yen at 350.2 yen per kg, with 434 lots or 2,170 tonnes waiting for delivery. "TOCOM rubber is likely to be trapped in a narrow range as players want to take profits every time prices rise. They don't want to hold contracts for long or take any risks at a time when the global economy is still fragile," one dealer said. The most active January rubber contract on the Shanghai futures market was up 75 yuan at 33,180 yuan ($5,193) per tonne.