Tokyo (may 11, 2011) : key tokyo rubber futures settled up 2.7 percent on tuesday as silver and other commodities rebounded from last week's collapse, but investors remained cautious of making heavy bets ahead of china's economic data announcement on wednesday. the key tokyo commodity exchange rubber contract for october delivery rose as much as 3.8 percent before closing up 2.7 percent at 377.5 yen ($4.703) per kg.
the most active shanghai rubber futures contract for september delivery rose 525 yuan to close at 31,480 yuan per tonne. volume rose to 1,064,864 lots from monday's 810,162 lots. "sentiment has improved after the market was oversold last week, but whether the uptrend will continue depends on trends in china's stock market on wednesday after the announcement of its economic data," said hiroyuku kikukawa, a general manager at trading company nihon unicom inc. china will announce data including industrial output, retail sales and consumer prices at 0200 gmt on wednesday.
Wednesday, May 11, 2011
Tokyo rubber futures up
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