Rubber rallies
Benchmark Tokyo rubber futures rallied to a fresh eight-month high on Wednesday, extending gains into a third session, backed by an overnight gain in oil prices, and as upbeat China's trade data fuelled hopes of a demand pick-up in the world's top buyer. The Tokyo Commodity Exchange (TOCOM) rubber contract for September delivery finished higher by 4.3 yen, or 2.3 percent, at 193.3 yen ($1.78) per kg, after touching a high of 197.0 yen, the highest since August 11, 2015.
Stocks in Shanghai jumped more than 1 percent to a three-month high on Wednesday while the most-active rubber contract on the Shanghai futures exchange for September delivery rose 300 yuan to finish at 12,525 yuan ($1,936.76) per tonne after hitting a high of 12,950 yuan, the highest since last July. The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 151.0 US cents per kg, unchanged from the previous session.
- 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
