Benchmark Tokyo rubber futures rose for a fourth day Friday to trade at their highest level since September last year.
"The overall market sentiment has been high as investors are more willing to take risk than before," said a Tokyo- based dealer.Kaname Gokon, an analyst at Okato Shoji, said the session's market moves were mainly because of short-covering by investors worried that with an improvement in sentiment prices would start to rise.
The Tocom benchmark six-month contract ended the night session up three yen at Y177.6($1.56) a kilogram, having earlier touched a high of Y179.3 a kilogram.
Asian Rubber Futures Mar 04 Change from previous close
Tocom Aug RSS3 Y174.6/Kg Up Y9.9/Kg
Shanghai May SCR5 CNY11,070/Ton Up CNY400/Ton
Thai Sep RSS3 THB48.10/Kg Up THB2.05.Kg
Sicom May RSS3 US 148.0 cents/Kg Up US 9.1 cents/Kg
Sicom May TSR20 US 133.1 cents/Kg Up US 9.3 cents/Kg
Asian Physical Rubber
Grade Shipment Mar 04 Mar 03
RSS3 Apr/May 147-148 136-137
STR20 Apr/May 133-134 122-123
SIR20 Apr/May 133-134 122-123
SMR20 Apr/May 132-133 121-122
SVR3L Apr/May 132-133 132-133
USS Mar THB43.11-THB43.66/Kg THB41.74-THB42.12/Kg
