Asian Rubber Prices End Stronger

By Vibhuti Agarwal Features Dow Jones Newswires

Asian rubber prices were broadly higher, supported by stronger Tokyo and Shanghai rubber futures.

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Tokyo rubber futures held on to early gains Friday amid expectations that major producers may reduce exports to stabilize prices.

The commodity has slumped more than a third from the year's high on worries of excess output, but there have been reports that Malaysia, Thailand and Indonesia are considering limiting exports to curb price fluctuations, said Kaname Gokon of Okato Shoji brokerage in Tokyo.

The Tokyo Commodity Exchange rubber contract for October delivery rose 1.1% to 217.3 yen ($1.95) a kilogram.

The most-active rubber contract on the Shanghai futures exchange for September delivery jumped 210 yuan to settle at CNY14,730 ($2,136) a metric ton.

Asian Rubber Futures

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Apr 28 Change from previous close

Tocom Oct RSS3 Y217.3/Kg Up Y2.3

Shanghai Sep SCR5 CNY14,730/ton Up CNY210

Sicom Aug RSS3 210.6 US cents/Kg Flat

Sicom Sep TSR20 162.0 US cents/Kg Up 0.7 US cents

USS May THB70.38-THB70.68/Kg THB70.17-THB70.37/Kg

Write to Vibhuti Agarwal at vibhuti.agarwal@wsj.com

(END) Dow Jones Newswires

April 28, 2017 06:58 ET (10:58 GMT)