Benchmark Tokyo rubber futures ended up 1.4 percent on Friday, posting their biggest weekly percentage gain since 2013, on a stteep recovery in crude prices Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have rebounded from a near six-week low of 190.9 yen hit on January 21 that came amid worries about oversupply with cheap imports from key suppliers Thailand, Indonesia and Vietnam flooding the market.
The Tokyo Commodity Exchange rubber contract for July delivery finished 2.8 yen higher at 209.2 yen per kg, ending the week with a 6.7 percent gain, the biggest weekly rise since May 2013. The benchmark contract rose to as high as 209.4 yen, near a four-week high hit on Wednesday. The most-active rubber contract on the Shanghai futures exchange for May delivery rose 315 yuan to finish at 13,745 yuan per tonne.