Tokyo rubber bounces back

12 Jul, 2008

Tokyo rubber futures rallied on Friday, snapping a four-day losing streak to rise 3 percent on the back of renewed strength in crude oil. The key Tokyo Commodity Exchange rubber contract for December delivery rose as high as 346.2 yen a kg by 0038 GMT, up 10.4 yen or 3.1 percent.
More physical rubber supplies are becoming available due to an improvement in weather conditions that has allowed tapping to resume, but availability is still short of normal levels.

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