Asian rubber prices finish higher, propped up by a rise in global oil prices.
Oil futures extended their gains in early Asia trading Thursday following a two-day meeting by the U.S.Federal Reserve that ended with policy makers dialing back their timeline for interest rate increases, while major oil producers set a meeting to discuss a supply freeze.
Benchmark Tocom rubber price ended up Y5.1 per kilogram at Y175.4/kilogram.
The most active rubber contract on the Shanghai futures exchange for May delivery rose 230 yuan to finish at CNY11,425($1,760) a metric ton.
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Asian Rubber Futures
Mar 17 Change from previous close
Tocom Aug RSS3 Y175.4/Kg Up Y5.1/Kg
Shanghai May SCR5 CNY11,425/Ton Up CNY230/Ton
Thai Sep RSS3 THB48.80/Kg Down THB1.15/Kg
Sicom Jul RSS3 US 150.1 cents/Kg Up US 6.6 cents/Kg
Sicom Jul TSR20 US 131.9 cents/Kg Up US 4.9 cents/Kg
Asian Physical Rubber
Grade Shipment Mar 17Mar 16
RSS3 Apr/May 147-149 141-142
STR20 Apr/May 132-133 125-126
SIR20 Apr/May 132-133 125-126
SMR20 Apr/May 131-132 124-125
SVR3L Apr/May 132-133 132-133
USS Apr THB45.57-THB46.36/Kg THB45.09-THB45.86/Kg
