Rubber prices rose nearly 2% in trading this morning, Monday (15/1/2018).
The price of rubber for delivery in June 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rose 1.95 percent, or 4.1 points, to 214.60 yen per kilogram (kg) at 1040 GMT.
Previously, June's rubber contract price opened with a 0.19% rise or 0.40 point at 210.9, after trading on Friday (12/1) ended up 1.74% at 210.50.
According to Kazuhiko Saito, an analyst at commodity brokerage firm Fujitomi, rubber prices are driven by investor concerns ahead of a low season of production in Thailand.
"Investors are cautious in the sale of rubber futures contracts," he said as quoted by Bloomberg.
Reported by Bloomberg, winter in Thailand usually begins in February. At that time, the rubber trees had fallen and the farmers stopped wiretapping.
Rubber prices are able to strengthen even at the same time appreciation of yen currency performance continues. The yen today is observed to rise 0.3 points or 0.27% to 110.76 per dollar at 10:05 pm.
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