Tokyo and Shanghai rubber up

Benchmark Tokyo rubber futures jumped to their highest in nearly six months on Tuesday, supported by sharp gains in Shanghai on bets that easier credit in top consumer China could stoke demand. The Tokyo Commodity Exchange rubber contract for June delivery, which set the tone for tyre rubber prices in Southeast Asia, finished 7.9 yen higher at 214 yen per kg - the biggest one-day jump since March.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 630 yuan to finish at 13,315 yuan per tonne, the highest since October 31. The front-month rubber contract on Singapore's SICOM exchange for January delivery, a key indicator of physical prices, last traded at 147.60 US cents per kg, down 0.4 cent. TOCOM rubber prices have gained over 6 percent for the month.