Tokyo rubber gains on fall in Chinese stocks

Print this page Posted on : 11-27-2007 by recycleinme.com

Natural rubber futures in Tokyo, the global benchmark, climbed after stockpiles in China fell to the lowest in more than a month, raising speculation demand will increase in the world’s largest consumer of the commodity.

The most-active April delivery contract added 3.6 yen, or 1.3 per cent, to settle at 277.5 yen per kilogram ($2,564 a tonne) on the Tokyo Commodity Exchange.

In he cash market, shippers in Thailand offered RSS-4 grade rubber for January shipment at $2.47 a kg.

Rubber for March delivery on the Shanghai Futures Exchange lost 320 yuan, at 21,735 yuan ($2,936 a tonne).

Source : Business Line