TOKYO, Feb 3 (Reuters) – Key TOCOM rubber futures
recouped earlier losses to close higher on Friday, but marked
their first weekly loss in five weeks as buying prompted by
Thailand’s plan to support prices petered out.
But there was psychological support at and above 300 yen as
Thai intervention is expected to start mid-month and given the
likelihood of seasonal tightness in rubber supplies over the
coming weeks. [ID:nL4E8CV4H0]
“There are fewer people worried about downside risks now
that Thailand’s intervention is due to start soon,” said a
trader at a Japanese commodity brokerage.
“If the 300 yen level proves a solid floor, the market could
easily run higher,” he said.
Key U.S. jobs data due later in the day is being carefully
watched to gauge the strength of the world’s biggest economy and
how long financial markets including commodities markets will
benefit from central banks’ policies to provide ample liquidity.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ FACTBOX on physical trading [ID:nL3E7IQ1WF] FACTBOX on rubber trading [ID:nL4E7JO0G8] Asia Softs outlook: [SOF/AS] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

The key Tokyo Commodity Exchange rubber contract for July
delivery <0#2JRU:> settled up 3.6 yen per kg or 1.2 percent at
314.7 yen on Friday after falling as low as 308.6 yen.
The benchmark TOCOM contract fell 0.7 percent on the week.
It hit a three-month high of 324.6 yen last week after breaking
through above 300 yen the week earlier.
The most active Shanghai rubber contract for May delivery
rose 420 yuan to 27,730 per tonne.
In other markets, Brent crude held above $112 on Friday as
reports that Israel could strike Iran in the spring heightened
already simmering tensions in the region. [O/R]

Source: Reuters

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