TOKYO, April 2 (Reuters) – The benchmark Tokyo rubber futures contract rose to a 19-month high on Friday, up for a second day in a row, helped by a weaker yen and a brighter outlook for demand.
* The key Tokyo Commodity Exchange rubber contract for September delivery <0#JRU:> closed up 4.9 yen at 318.2 yen per kg from the previous day. It was up 4.3 percent on the week.
* The contract earlier rose as high as 318.5 yen per kg, the highest for any benchmark since early September 2008.
* In the physical market, the offer price of benchmark Thai rubber grade hit a record high of $3.6 per kg on Friday and was likely to rise further as supply was falling for seasonal reasons. [ID:nSGE63100C]
* The dollar extended gains against the yen to hit its highest in seven months in thin Asian trade on Friday, with traders citing buying by Japanese players. [USD/]
* Many investors in Asia as well as Europe and the United States are away for the Good Friday holiday.
* U.S. oil futures rose for a fourth straight day on Thursday, closing at their highest level in 18 months, after upbeat U.S. economic data signalled better oil demand ahead, prompting fund buying as the new quarter began. The New York market is closed on Friday and resumes trading on Monday. [O/R]
* Japan’s crude rubber inventories totalled 7,222 tonnes as of March 20, down 10.7 percent from 10 days earlier, data from the Rubber Trade Association of Japan showed on Friday. [ID:nTOE631034]
* Deliverable rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 15 percent from one week earlier, the exchange said on Friday. [ID:nTST000053]
* A Reuters poll showed on Thursday that strong demand as the global economy recovers and tight supply for seasonal reasons are expected to boost Tokyo rubber futures in April. [ID:nSGE62U0AW]
* U.S. auto sales jumped 24.3 percent in March, the strongest result in months, led by a rebound at recall-hit Toyota Motor Corp <7203.T>, which offered record incentives aimed at putting the crisis behind it. Toyota sales jumped nearly 41 percent in March, snapping two months of sales declines amid massive vehicle recalls and a rare production and sales halt for the world’s biggest automaker. [ID:nN01149542] [ID:nN01131488]
* The United States on Thursday finalised its first greenhouse gas emissions rules on automobiles and hiked fuel efficiency standards for the first time since the 1970s, measures Canada imposed as well. [ID-:nN01242702]

Source: Reuters

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