By Vibhuti Agarwal
Rubber prices across Asia ended stronger Friday, led by gains in Tokyo and Shanghai.
Benchmark Tokyo rubber futures prices touched their highest levels since July 2015, amid optimism in Chinese commodity markets.
Data released late Thursday showed China's new car deliveries were up 20% in October from a year earlier, which boosted prices and "made investors more optimistic toward risk-taking activities," said Kaname Gokon, an analyst at Okato Shoji brokerage in Tokyo.
Rubber prices on the Tocom have rallied nearly 30% over the past two months amid hopes of improvement in demand for natural rubber that will help trim growing stockpiles.
The Tokyo Commodity Exchange rubber contract for April delivery ended 6.9 yen higher at 205.5 yen per kilogram.
The most-active rubber contract on the Shanghai Futures Exchange for January delivery rose 500 yuan to settle at 16,035 yuan ($2,353) per ton.
Asian Rubber Futures
Nov. 11 Change from previous close
Tocom Apr RSS3 Y205.5/Kg Up Y6.9
Shanghai Jan SCR5 CNY16,035/ton Up CNY500
Sicom Jan RSS3 190.0 US cents/Kg Up 3.5 US cents/Kg
Sicom Mar TSR20 175.5 US cents/Kg Up 2.0 US cents/Kg
USS Nov THB57.62-THB57.72/Kg THB56.25-THB56.36/Kg
By Vibhuti Agarwal at email@example.com
(END) Dow Jones Newswires
November 11, 2016 05:37 ET (10:37 GMT)
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