Rubber rises on Dec.1
Benchmark Tokyo rubber futures closed 3 percent higher on Thursday, following a near 5-percent tumble in the previous session, as oil prices rallied after Opec cut a deal to reduce output and on a weaker yen against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, extended gains in the afternoon to more than 4 percent.
The Tokyo Commodity Exchange rubber contract for May delivery finished up 6.8 yen at 234.9 yen per kg. The most-active rubber contract on the Shanghai futures exchange for May delivery fell 130 yuan to finish at 18,085 yuan per tonne. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 172 US cents per kg, up 2.5 cents.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
