Tocom RSS3 rubber futures surged 3.7% Wednesday on the back of strong demand and dwindling supply with the onset of the wintering season in rubber growing regions in South East Asia.
Trading was halted when the April contract breached the first Y10 upper limit shortly the after market opened. The benchmark RSS3 July contract gained as much as 3.7% to reach a high of Y297.8.
Prices continue to climb when trading resumed. RSS3 March, April, May, June and July contracts on the Tocom all gained more than Y10, while the February contract was trading Y9.5 above the settlement price.
The benchmark RSS3 July contract was trading Y10.1 or 3.5% higher at Y297.0.
(Source: irco.biz)
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