Tokyo rubber rises 1.7 %

Print this page Posted on : 07-26-2008 by recycleinme.com

Tokyo rubber futures closed up 1.7 per cent at a one-and-a-half week high on Friday as a recovery in oil prices prompted active short-covering, with an improved technical trend providing additional support. The benchmark Tokyo Commodity Exchange rubber contract for December delivery closed at 335.0 yen a kg, up 5.7 yen or 1.7 per cent from Thursday. It briefly hit a session high of 336.0 yen {ndash} the highest since July 15. The TOCOM contract reversed course after touching a seven-week low of 323.1 yen on Thursday.

Source : Business Line