Asian rubber prices ended sharply higher Friday, led by huge gains in Tokyo rubber futures.
Tokyo rubber futures maintained their early gains amid a weaker yen and bargain-hunting.
“The markets are back to normal after the April contract adjustment got over,” said Kaname Gokon of brokerage Okato Shoji in Tokyo.
Investors sold ahead of that contract’s expiration, pushing futures to five-month lows recently.
The Tokyo Commodity Exchange rubber contract for September delivery climbed 6.4% to 216 yen ($1.98) a kilogram.
The most-active rubber contract on the Shanghai futures exchange for September delivery rose 395 yuan to settle at CNY14,835 ($2,155) a metric ton.
Asian Rubber Futures
April 21 Change from previous close
Tocom Sep RSS3 Y216.0/Kg Up Y12.9
Shanghai Sep SCR5 CNY14,835/ton Up CNY395
Sicom Oct RSS3 201.3 US cents/Kg Up 2.2 US cents
Sicom Sep TSR20 161.5 US cents/Kg Up 0.6 US cents
USS May THB68.62-THB68.72/Kg THB67.12-THB67.66/Kg
Write to Vibhuti Agarwal at [email protected]
(END) Dow Jones Newswires
