Benchmark Tokyo rubber futures climbed for a second straight session on Wednesday, moving further away from an about 21-month low hit earlier this week, as surging oil prices boosted risk appetite among investors. The Tokyo Commodity Exchange rubber contract for November delivery finished 1.3 yen, or 0.8 percent, higher at 173.8 yen ($1.58) per kg. "Still, rubber prices have been swayed by external factors such as oil prices that have been driven by political news," Yoshida said.
The TOCOM futures, which set the tone for rubber prices in Southeast Asia, have lost about 15 percent from May's high by early this week. The most-active rubber contract on the Shanghai futures exchange for September delivery rose 50 yuan to finish at 10,490 yuan ($1,588) per tonne. The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 135.5 US cents per kg, down 0.8 cent.