Tokyo rubber rises on Jan.17

Benchmark Tokyo rubber futures rose to a one-week high on Thursday, supported by China's move to inject liquidity into the financial system and hopes of some measures by top producers to help shore up prices. The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 1.2 yen, or 0.7 percent, higher at 184.8 yen ($1.7) per kg.

The TOCOM benchmark, which sets the tone for rubber prices in Southeast Asia, touched the highest since Jan. 10 at 185.0 yen earlier in the session. TOCOM's technically specified rubber (TSR) 20 futures contract for July delivery rose 0.3 percent to close at 152.5 yen per kg.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 45 yuan to finish at 11,575 yuan ($1,709) per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 133.5 US cents per kg, down 0.2 percent.

China's central bank said it will make another big cash injection through open market operations on Thursday, following its biggest-ever net liquidity injection a day earlier. "There are also some expectations that top rubber producers may meet again and come up with some measures to help bolster prices later this month, which also lent support to the market," said Toshitaka Tazawa, an analyst with commodities broker Fujitomi Co.