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Asian Rubber Prices Finish Stronger

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04/21/2017 | 01:07pm CEST
   By Vibhuti Agarwal 
 

Asian rubber prices ended sharply higher Friday, led by huge gains in Tokyo rubber futures.

Tokyo rubber futures maintained their early gains amid a weaker yen and bargain-hunting.

"The markets are back to normal after the April contract adjustment got over," said Kaname Gokon of brokerage Okato Shoji in Tokyo.

Investors sold ahead of that contract's expiration, pushing futures to five-month lows recently.

The Tokyo Commodity Exchange rubber contract for September delivery climbed 6.4% to 216 yen ($1.98) a kilogram.

The most-active rubber contract on the Shanghai futures exchange for September delivery rose 395 yuan to settle at CNY14,835 ($2,155) a metric ton.

 
 Asian Rubber Futures 
                            April 21                Change from previous close 
 
 Tocom      Sep RSS3        Y216.0/Kg               Up Y12.9 
 Shanghai   Sep SCR5        CNY14,835/ton           Up CNY395 
 Sicom      Oct RSS3        201.3 US cents/Kg       Up 2.2 US cents 
 Sicom      Sep TSR20       161.5 US cents/Kg       Up 0.6 US cents 
 
 USS        May             THB68.62-THB68.72/Kg    THB67.12-THB67.66/Kg 
 

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

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