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Rubber jumps on Jan.10

Benchmark Tokyo rubber futures jumped to a 3-week high on Tuesday as investors stepped up buying on supply concerns after heavy flooding hit southern Thailand, a major rubber-producing area, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 11.9 yen, or 4.4 percent, higher at 279.4 yen ($2.41) per kg, the highest since December 19. Japanese markets were closed on Monday for a national holiday. The TOCOM benchmark touched its highest since May 23, 2013 at 291.7 yen on December 16 last year.

The most-active rubber contract on the Shanghai futures exchange for May delivery also rose 840 yuan to finish at 19,270 yuan ($2,783.80) per tonne, after hitting a high of 19,350 yuan earlier, the highest in more than two weeks.

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