TOKYO, Nov 1 (Reuters) – Benchmark Tokyo rubber futures closed up 1.5 percent on Thursday helped by a pick-up in the Chinese manufacturing sector, but the gains were limited amid lingering worries about slower demand growth.
The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for April delivery rose 3.9 yen to settle at 259.0 yen ($3.24) per kg.
Industrial activity in China improved in October, confirming a trend towards recovering, though sluggish, growth.
“Chinese figures had some positive impact, but it is not something that would lead instantly to an optimistic demand outlook,” said a Tokyo-based broker who declined to be named.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 365 yuan to finish at 24,815 yuan ($4,000) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for December delivery last traded at 285.50 U.S. cents per kg, down 2.0 cents.
($1 = 79.9300 Japanese yen)
($1 = 6.2372 Chinese yuan)
(Reporting by Osamu Tsukimori; Editing by Alison Birrane)
Source: Reuters
