Benchmark Tokyo rubber futures rose for a fourth straight session on Friday and posted their sharpest weekly gain in two years, as the yen hovered near its 12-1/2 year low against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, erased early losses to close the session higher in line with firm Shanghai futures.
The Tokyo Commodity Exchange rubber contract for November delivery finished 3.7 yen higher at 241.2 yen per kg, not far off the 14-month high hit on Thursday. It gained 10 percent for the week. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 180 yuan to finish at 15,010 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 164.9 US cents per kg, up 3.3 cents.
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