Key Tokyo rubber futures hit a 30-year peak for a third straight day on Thursday, aided by a jump in Shanghai futures to a record high on tight supply concerns. The key Tokyo Commodity Exchange rubber contract for April delivery rose as high as 383.0 yen per kg, the highest for any TOCOM rubber benchmark since 1980, surpassing the previous 30-year peak reached on Wednesday of 370.2 yen The April contract settled at 379.1 yen, up 9.4 yen or 2.5 percent.
The most active Shanghai rubber futures contract for May delivery rose as high as 38,920 yuan ($5,868) per tonne on Thursday, climbing above the previous high of 38,400 yuan hit the day before. The Shanghai contract settled at 36,755 yuan per tonne on Thursday. Volume picked up at 1.84 million lots from Wednesday's 1.22 million lots.