Rubber prices continued strengthening in trading this morning, Thursday (10/19/2017), sustained optimism on the Chinese economy.
The price of rubber for delivery in March 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), gained 1.58 percent or 3.10 points to 199.10 at 9:59 pm.
Earlier, the price of rubber opened with a weak 0.10% or 0.20 point at 195.80 after trading on Wednesday (18/10) closed rebound from a three-month low with 20 points to 196.10 yen per kg.
Gu Jiong, analyst Yutaka Shoji, said the recovery in economic conditions in China helped boost optimism that demand for rubber would increase.
"The strengthening of oil prices and weakening Japanese yen also gave positive sentiment," he continued, as quoted by Bloomberg, Thursday (17/10/2017).
Meanwhile, the yen today was down 0.04% or 0.04 points to 112.98 yen per US dollar at 10:53 pm.
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