Natural rubber futures on the Tokyo Commodity Exchange rose Monday to their highest level since September 2008 on spillover support from strong crude oil and a weaker yen, said trade participants.
The benchmark Tocom June RSS3 contract traded as much as Y9 or 3.3% higher at Y285 a kilogram.
There's been a lot of buying by institutional funds, which took leads from crude oil hovering around $80 a barrel, said a Tokyo-based broker with Okachi Corp.
He said the U.S. dollar rising above Y93 also provided support to rubber prices.
(Source: irco.biz)
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