Benchmark Tokyo rubber futures soared to a 6-1/2-month high on Monday, extending gains into a fifth straight session, as risk appetite grew after oil prices continued to recover and as fears over slowing growth in the Chinese economy eased, dealers said.
The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished up 4.9 yen, or 2.8 percent, at 179.5 yen ($1.58) per kg, after rising to as much as 184.6 yen earlier, the highest since August 24. The most-active rubber contract on the Shanghai futures exchange for May delivery surged 635 yuan to finish at 11,705 yuan ($1,796.49) per tonne, surrendering some of its earlier gains after hitting a high of 12,065 yuan. The front-month rubber contract on Singapore's SICOM exchange for delivery last traded at 135.0 US cents per kg, up 2.8 cents.
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