TOKYO (Nov 13): Benchmark Tokyo rubber futures gained 1.7% on Monday, as a bullish Shanghai market improved investor sentiment, brokers said.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, tend to follow the Chinese market for direction.
The Tokyo Commodity Exchange rubber contract for April delivery finished 3.3 yen higher at 201.9 yen (US$1.78) per kg, after three straight sessions of declines.
The most active rubber contract on the Shanghai futures exchange for January delivery rose 295 yuan to finish at 14,155 yuan (US$2,130) per tonne.
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The front-month rubber contract on Singapore\’s SICOM exchange for December delivery last traded at 143 U.S. cents per kg, up 0.7 cents.
(US$1 = 113.4300 yen)
(US$1 = 6.6444 Chinese yuan)