Benchmark Tokyo rubber futures rose for a third session to a two-week high on Wednesday, supported by higher oil and precious metals prices on escalating violence in Ukraine, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for October delivery rose 1.2 yen, or 0.6 percent, to settle at 206.1 yen ($2.02) per kg.
The contract climbed earlier to 207.0 yen, the highest since May 2, recovering after settling at 198.3 yen on Friday, but it shook off some gains due to light profit-taking. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 240 yuan to finish at 14,305 yuan ($2,300) per tonne. The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 170.40 US cents per kg, up 0.80 cents.
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