Benchmark Tokyo rubber futures surged to three-year highs on Thursday, extending gains into a fifth session, as speculators stayed on buying spree, but the market cut some of earlier gains as Shanghai came under pressure in late trade due to profit-taking.
The Tokyo Commodity Exchange (TOCOM) rubber contract for May delivery finished 9.9 yen, or 3.6 percent, higher at 282.2 yen ($2.40) per kg. It jumped to the highest since Sept. 9, 2013 of 288.8 yen earlier in the session. The most-active rubber contract on the Shanghai futures exchange for May delivery ended down 140 yuan at 20,015 yuan ($2,889.63) per tonne on Thursday, but it was still near the highest since January 2014. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 204.2 US cents per kg, down 10.7 cent.