By Lucy Craymer
Asian rubber prices raillied sharply Tuesday, driven by concerns that continuing heavy flooding in southern Thailand would reduce the availability of natural rubber in the market.
Thailand's Agriculture Ministry has reported that the floods have damaged around 4.6% of the country's total rubber-growing area. Thailand is the world's largest producer of natural rubber.
The Tokyo Commodity Exchange rose a further 2.6% in the night session, which was considered part of the next day's trading. It closed at 286.7 yen ($2.47) a kilogram.
Asian Rubber Futures
Jan 10 Change from previous close
Tocom Jun RSS3 Y279.4/Kg Up Y11.9/Kg
Shanghai May SCR5 CNY19,055/Ton Up CNY625/Ton
Sicom Feb RSS3 US 251.0/Ton Up US 8.5 cents/Ton
Sicom Feb TSR20 US 207.5/Ton Up US 4.9 cents/Ton
USS Jan THB76.83-THB76.99/Kg THB THB75.77-THB76.16/Kg
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(END) Dow Jones Newswires
January 10, 2017 05:54 ET (10:54 GMT)
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