TOCOM rubber ends higher on Shanghai gain, firm oil prices

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TOKYO (Dec 12): gained on Tuesday after two days of decline, buoyed by Shanghai and firm .

() futures, which set the tone for tyre rubber prices in Southeast , had fallen amid worries over demand after hitting a more than two-month high of 211.2 yen a week earlier following a fire outbreak at a warehouse in .

The Tokyo Commodity Exchange rubber contract for May delivery finished 1 yen higher at 204 yen (US$1.80) per kg.

The most-active rubber contract on the Shanghai futures exchange for May delivery rose 90 yuan to finish at 14,165 yuan (US$2,140) per tonne.

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Brent prices jumped 1.5% on Tuesday to their highest since mid-2015, after the shutdown of the Forties pipeline knocked out significant supply from a market already tightening due to OPEC-led production cuts.

The front-month rubber contract on ’s SICOM exchange for January delivery last traded at 142.40 US cents per kg, down 0.7 cent.

(US$1 = 113.3800 yen)
(US$1 = 6.6205 Chinese yuan renminbi)

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