Asian rubber prices were broadly higher, supported by stronger Tokyo and Shanghai rubber futures.
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
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
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(END) Dow Jones Newswires
April 28, 2017 06:58 ET (10:58 GMT)