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BANGKOK, Dec 2 (Reuters) – Tokyo rubber futures ended flat on Friday even though players took profits ahead of the weekend after recent rises, with limited supplies in major producing countries and firm oil prices lending support, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for May delivery ended steady at 280.8 yen ($3.61) per kg.
The most-active Shanghai rubber contract for May delivery ended 25 yuan lower to finish at 25,900 yuan ($4,100) per tonne.
“Prices rose more than 6 percent yesterday, so players just book profits to avoid risks ahead of the weekend,” one dealer said.
Dealers said TOCOM prices could rebound again next week after prices finish above a key psychological level of 280 yen per kg and firm oil prices should lend some support.
Brent crude rose above $109 on Friday on fresh evidence of a sustained recovery in the United States, the world’s top oil consumer. [O/R]
($1 = 77.7100 Japanese yen)
($1 = 6.3635 Chinese yuan)
Source: Reuters