Rubber soars
Benchmark Tokyo rubber futures ended up 2.6 percent on Thursday, marking the first gain in three sessions, with support from firm Shanghai futures. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, recovered about 5 percent after touching a six-week low of 148.6 yen on August 25, thanks to a weaker yen.
The Tokyo Commodity Exchange rubber contract for February delivery finished 3.9 yen higher at 155.9 yen ($1.51) per kg. Earlier in the session, it touched 156.7 yen, the highest since August 22. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 195 yuan to finish at 12,375 yuan ($1,852.63) per tonne. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 129 US cents per kg, up 1.5 cent. "Firm Shanghai futures and a weak yen supported TOCOM," said a Tokyo-based source with a brokerage.
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