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Thursday, August 11, 2022

Tokyo rubber futures rise 0.5 pct on Shanghai gains (Nov. 14)

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)

Source: Reuters

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