Tokyo rubber at 3- week high

Print this page Posted on : 08-28-2008 by recycleinme.com

Tokyo rubber futures jumped 2 per cent to a three- week high on Wednesday as strong oil prices and an improved technical trend prompted investment funds to buy back the soft commodity. The key Tokyo Commodity Exchange rubber contract for February delivery closed at ¥ 318.6 per kg, up ¥ 6.3 or 2 per cent. It hit a session high of ¥ 318.7 — the highest for a benchmark since Aug. 6. The key contract rose through several key moving average levels, including the five- day average at ¥ 310.8 and the 25day average of ¥ 315.1.

Source : Business Line