Asian Rubber Prices End Higher on Shanghai Gains, Weaker Yen

Asian rubber prices continued their winning streak Friday, closing higher after being guided by a rise in Shanghai rubber futures and a weaker yen.

Stronger rubber demand from China, the world's second-biggest buyer, has improved the mood of the rubber market, said a Tokyo-based trader."The increase in imports is suggestive of a pick-up in domestic demand, putting China back on track," the trader said.

Additionally, rubber prices benefited from a strengthened U.S. dollar against the Japanese yen. A cheaper yen makes Japan's exports competitive.

February Tokyo futures ended up 0.7 yen at Y158.9($1.55) a kilogram.

Asian Rubber Future          Sep 09                      Change from previous close

Tocom    Feb RSS3           Y158.9/Kg                           Up Y0.7

Shanghai Jan SCR5         CNY12,780/Ton                     Up CNY85

Sicom    Oct RSS3          159.0 US cents/Kg                 Up 0.5 US cents/Kg

Sicom    Oct TSR20        131.4 US cents/Kg                 Unchanged

USS      Sep                  THB50.58-THB50.73/Kg          THB50.45-THB50.80/Kg