Tocom rubber futures higher on strong demand in the cash market and tight supply due to heavy rains in Thailand and Malaysia, trade participants say. Hedgers who are selling physical cargoes are setting up long positions on Tocom, says an importer in Tokyo.
However, strong resistance at Y310/kg, traders say. Benchmark Tocom RSS3 rubber contract for June delivery trading Y6.4 higher at Y308.9/kg after hitting an intraday high of Y312.4/kg.
Source: Dow Jones