Tokyo rubber futures gain

Tokyo rubber futures extended gains into a fourth session on Monday to close at a nearly seven-week high, supported by a firm Nikkei and reduction in rubber inventories at Japanese ports, traders said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery was up 4.6 yen, or 1.8 percent, to settle at 256.2 yen ($2.55) per kg, the highest closing price since June 5.
It rose as much as 7.3 yen to an intra-day high of 258.9 yen per kg, near Friday's high of 262.0, which also marked the highest level since June 5. The most active rubber contract on the Shanghai futures exchange for January delivery rose 75 yuan to 18,665 yuan ($3,000) per tonne. The front-month rubber contract on Singapore's SICOM exchange last traded unchanged at 227.5 US cents per kg.