[03 Feb] Tocom Rubber Futures Rise 3.6% on Short Covering, Higher Crude

Natural rubber futures on the Tokyo Commodity Exchange rose 3.6% Tuesday, breaching Y285 a kilogram on the back of short covering amid strong physical demand and higher crude oil, trade participants said.

The benchmark July contract traded as high as Y285.2/kg, Y9.8 higher than Monday's settlement.

"After more than a week of selling pressure, traders are now covering their shorts," said a Tokyo-based trading executive.

(Source: irco.biz)