Rubber prices across most Asian markets ended Tuesday's trading session stronger, with gains recorded in Tokyo and Shanghai rubber futures.
Tokyo rubber futures finished up solidly amid gains in Shanghai and further declines in the yen. Also, Japanese equities climbed, indicating improving local risk sentiment.
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Further, supplies have been disrupted because of heavy flooding and "prices are expected to surge further," said Kaname Gokon of brokerage firm Okato Shoji in Tokyo.
The futures contract for October delivery rose 2.8% to 221.7 yen ($1.974) a kilogram.
The most active rubber contract on the Shanghai futures exchange for September delivery jumped 455 yuan to settle at 15,185 yuan ($2,201) a metric ton.
Asian Rubber Futures
May 2 Change from previous close
Tocom Oct RSS3 Y221.7/Kg Up Y6.1
Shanghai Sep SCR5 CNY15,185/ton Up CNY455
Sicom Nov RSS3 200.4 US cents/Kg Down 0.5 US cents
Sicom Oct TSR20 165.4 US cents/Kg Up 2.8 US cents
USS Jun THB71.09-THB71.82/Kg THB70.38-THB70.68/Kg
(END) Dow Jones Newswires
May 02, 2017 06:56 ET (10:56 GMT)