TOKYO, Nov 14 (Reuters) – Benchmark Tokyo rubber futures settled up 0.5 percent on Thursday, helped by a weaker yen and gains in Shanghai futures, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for April delivery rose 1.3 yen to settle at 259.1 yen ($2.61) per kg.
The market stood about 2 percent above a three-month low of 253.5 yen hit on Nov. 5.
The dollar’s rise to near a two-month high against the yen also helped TOCOM prices.
“The gains in Shanghai rubber and a weak yen helped TOCOM,” said a Tokyo-based broker.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 90 yuan to finish at 19,320 yuan ($3,200) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for December delivery last traded at 230.00 U.S. cents per kg, up 0.5 cent.
($1 = 6.0928 Chinese yuan)
($1 = 99.4150 Japanese yen)
(Reporting by Osamu Tsukimori; Editing by Subhranshu Sahu)