Tokyo Commodity Exchange (TOCOM) futures jumped to an about 4-month high on Tuesday, helped by growing hopes for a US-China trade deal. TOCOM's rubber contract for April delivery finished 5.8 yen, or 3.4%, higher at 177.9 yen ($1.63) per kg. It touched the highest since July 31 of 178.0 yen earlier in the session. It also marked the biggest one-day percentage leap since June 6.
China is pushing US President Donald Trump to remove more tariffs imposed in September as part of a “phase one" US-China trade deal, people familiar with the negotiations said on Monday.
The most-active rubber contract on the Shanghai futures exchange for January delivery climbed 325 yuan to finish at 12,200 yuan ($1,744) per tonne, after hitting the highest since Sept. 17 of 12,210 yuan.
The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 135.6 US cents per kg, up 2.3%.
Source Business Recorder