Rubber traded near a one-week high after data showed vehicle sales in China climbed by the most since January, boosting the outlook for demand from the world’s largest consumer of the commodity used in tires.
The contract for delivery in April on the Tokyo Commodity Exchange gained as much as 0.7 percent to 260.3 yen a kilogram ($2,617 a metric ton) and traded at 260.2 yen at 10:14 a.m. Futures settled at the highest level since Nov. 1 yesterday.
TOCOM Rubber Futures Prices on Tuesday, November 12, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Nov 2013 |
247.0 |
247.1 |
249.2 |
246.9 |
247.0 |
+0.0 |
15 |
|
Dec 2013 |
249.9 |
249.2 |
251.8 |
248.8 |
248.8 |
-1.1 |
42 |
|
Jan 2014 |
251.6 |
251.0 |
253.6 |
250.5 |
250.5 |
-1.1 |
76 |
|
Feb 2014 |
254.2 |
254.1 |
256.2 |
252.5 |
252.5 |
-1.7 |
165 |
|
Mar 2014 |
256.5 |
256.3 |
258.5 |
254.5 |
255.0 |
-1.5 |
321 |
|
Apr 2014 |
258.6 |
258.8 |
260.6 |
256.2 |
256.8 |
-1.8 |
3,182 |
|
Total |
|
3,801 |
|||||
Wholesale deliveries of cars, multipurpose and sport utility vehicles rose to 1.61 million last month, data from the state-backed China Association of Automobile Manufacturers showed yesterday. That compared with the median estimate of 1.5 million units by three analysts surveyed by Bloomberg News.
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“Expanding car sales in China raised optimism about growth in demand for rubber,” said Hideshi Matsunaga, an analyst at broker ACE Koeki Co. in Tokyo.
Rubber for May delivery on the Shanghai Futures Exchange was little changed at 19,415 yuan($3,187) a ton. Thai rubber free-on-board gained 1.3 percent to 79.05 baht ($2.50) a kilogram yesterday, according to the Rubber Research Institute of Thailand.
Source: Bloomberg
