The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 1.15% or 2.20 points to 193.70 yen per kg at 10:49 pm.
Earlier, the price of the August rubber contract opened 0.37 percent lower or 0.70 points in 190.80 yen per kg position, after trading last Friday (2/3) closed down 0.52 percent or 1 point at 191, 5 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the rebound in rubber prices today was driven by the strengthening of crude oil prices and rubber prices on the Shanghai commodities exchange.
"Step producer groups in Thailand to cut production further also helped support the price of rubber," he said, as quoted by Bloomberg, Monday (5/3/2018).
The price of West Texas Intermediate oil for April 2018 contract was up 0.49 percent to US $ 61.55 per barrel at 11:12 pm.
Meanwhile, today's yen exchange rate strengthened 0.16% or 0.17 points to 105.58 per US dollar at 11:25 pm.
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