Benchmark Tokyo rubber futures extended gains on Wednesday as a weaker yen and low Japanese inventories helped support the market, brokers said. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have slightly recovered after hitting a four-month low on Monday. Crude rubber inventories at Japanese ports stood at 4,202 tonnes as of March. 10, down 8.7 percent from the last inventory date, data from the Rubber Trade Association of Japan showed on Wednesday.
The Tokyo Commodity Exchange rubber contract for September delivery finished up 5.8 yen at 244 yen per kg. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 315 yuan to finish at 16,615 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for April delivery last traded at 182 US cents per kg, up 1.2 cent.
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