Rubber extends gains

Benchmark Tokyo rubber futures extended gains on Friday, ending the week with a modest rise, as a decline in Japanese rubber stocks and the Nikkei's rise to a 15-year high helped improve market sentiment. The Tokyo Commodity Exchange rubber contract for August delivery finished up 2 yen at 213.3 yen per kg, its highest settlement since March 5. For the week, the benchmark contract ended up 1.6 percent, recovering from a 5-week low hit mid-week.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 60 yuan to finish at 12,735 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for April delivery last traded at 143 US cents per kg, up 0.3 cent.