Benchmark Tokyo rubber futures surged for a third straight session on Thursday to hit their highest levels since June 2015, as a sharp fall in the yen against the dollar and firmer Shanghai futures prompted a flurry of buying, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery finished up 9.3 yen, or 4.1 percent, at 238.8 yen ($2.11) per kg. Earlier in the session, it touched its highest level since June 8, 2015, of 241.1 yen.
Tokyo markets were closed on Wednesday for a public holiday. The most-active rubber contract on the Shanghai futures exchange for January delivery touched a high of 18,400 yuan per tonne, the strongest level since June 2014, before closing up 240 yuan at 17,775 yuan ($2,570.13) per tonne. The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 177.0 US cents per kg, up 3.0 cent.