TOCOM snaps losing streak; weak oil caps gains
Benchmark Tokyo rubber futures snapped a three-day losing streak on Thursday, but gains were limited as Shanghai futures erased early gains while oil stayed near multi-month lows.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, had fallen 7.3 percent in the past three sessions.
"TOCOM rebounded from recent declines," said a Tokyo-based dealer.
The Tokyo Commodity Exchange rubber contract for November delivery finished 3.2 yen higher at 189.5 yen ($1.71) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 115 yuan to finish at 12,410 yuan ($1,816) per tonne, extending declines for a fourth day.
The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 138 U.S. cents per kg, down 1.6 cent. ($1 = 111.0400 yen) ($1 = 6.8322 Chinese yuan)
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