TOKYO (April 12): Benchmark Tokyo rubber futures ended higher on Thursday buoyed by firm oil prices, however, gains were curbed by sluggish Shanghai futures and on concerns over high inventories.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, got support as oil markets remained tense on concerns over a military escalation in Syria, although prices were way off Wednesday’s late-2014 highs.
The Tokyo Commodity Exchange rubber contract for September delivery finished 1.1 yen higher at 183 yen (US$1.71) per kg.
High rubber stockpiles in consumers such as China and Japan weighed on the market.
Source: Global Rubber Markets