Rubber rises

Benchmark Tokyo rubber futures rose on Friday as investors unwound short positions ahead of the long weekend, but they ended the week nearly flat amid lingering concerns about oversupply in Asia and weakening demand in top consumer China. The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery finished 2.1 yen higher at 159.7 yen per kg, after touching 160.7 yen, a near one-week high.
For the week, the TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, ended steady, losing a mere 0.1 yen. The most-active rubber contract on the Shanghai futures exchange for January delivery was unchanged, finishing at 10,340 yuan ($1,619.80) per tonne. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 116.6 US cents per kg, down 0.5 cent.