Benchmark Tokyo rubber futures hit their highest in nearly two weeks on Wednesday on the back of oil's rise to the highest since 2014, before paring gains on the yen's advance against the dollar and sluggish Shanghai futures, brokers said. Rubber prices have not gotten much support from a coordinated producers' curb in output.
The Tokyo Commodity Exchange rubber contract for June delivery finished 1.5 yen higher at 207.4 yen ($1.85) per kg after touching its highest since Dec. 29 at 208.1 yen. The most-active rubber contract on the Shanghai futures exchange for May delivery fell 60 yuan to finish at 14,035 yuan ($2,151) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 148.30 US cents per kg, up 0.5 cent.