Monday, April 16, 2007

Rubber Rises to Two-Month High in Tokyo as Tiremaker Demand Exceeds Supply

(Bloomberg) -- Rubber futures on the Tokyo Commodity Exchange, the international benchmark, gained to a two-month high on concern that supplies during the low- production season may lag behind rising demand from tire makers.

Tokyo rubber prices rallied to their highest since Feb. 14 as tire makers raise their output in line with increasing sales of autos in countries like China and Japan. Production is usually low before the middle of April during the so-called ``wintering'' season in Southeast Asia when rubber trees yield less and shed leaves, said Mutsuki Okubo, analyst at Kanetsu Asset Management in Tokyo.


Read more at Bloomberg Commodities News

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