Tokyo rubber hits 28- year high

Print this page Posted on : 05-27-2008 by recycleinme.com

Tokyo rubber futures extended gains to hit a fresh 28- year high on Monday, lifted by a combination of strong fundamentals and speculative buying, before drifting lower to end the day a little under ¥ 340.

The key Tokyo Commodity Exchange rubber contract for October delivery climbed ¥ 11.8 or 3.6 per cent to an intra- day high of ¥ 341.8 per kg, the highest since April 1980, before closing the day at ¥ 339.4, up ¥ 9.4. The trough was ¥ 328.1. Spot May TOCOM rubber expired at ¥ 323 on Monday.

Source : Business Line