By Lucy Craymer
Asian rubber prices ended Thursday's session mixed as Tokyo rubber contracts rose, led by gains in crude-oil prices, but profit-taking weighed in Shanghai.
The Organization of the Petroleum Exporting Countries late Wednesday reached a landmark deal to trim oil output. As a result, Brent crude was trading up 0.7% late in Asia at $52.18 a barrel.
"The decision has lifted the overall mood of the market, impacting rubber prices positively," said a Tokyo-based trader.
However, Shanghai rubber futures fell again Thursday, likely because of profit-taking after the spectacular rally in rubber prices over the past two months.
Asian Rubber Futures
Dec. 1Change from previous close
Tocom May RSS3 Y234.9/kg Up Y6.8/kg
Shanghai May SCR5 CNY18,135/Ton Down CNY80/Ton
Sicom Jan RSS3 US 203.0 cents/Kg Up US 4.8 cents/Kg
Sicom Jan TSR20 US 171 cents/Kg Up US 1.5 cents/Kg
USS Dec THB64.89-THB65.95/Kg THB64.79/Kg-THB65.40/Kg
Write to Lucy Craymer at firstname.lastname@example.org, @lucy_craymer
(END) Dow Jones Newswires
December 01, 2016 05:46 ET (10:46 GMT)
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