The hottest TOCOM rubber futures closed higher, an

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TOCOM rubber futures closed higher, with the December contract hitting a three week high

according to Tokyo's July 20 news, TOCOM rubber futures closed sharply higher on Friday, and the benchmark December RSS3 contract rose to a three week high

Tokyo traders said that the recent rise in crude oil and precious metal futures boosted market sentiment, making the fund short covering

traders added that the market was supported by the lack of supply and the news of rainfall in southern Thailand. End users were worried that rubber prices would rise further next week, so they returned to the market to purchase recent shipments. However, the rise is expected to be short-lived, as the medium-term outlook for Fundamentals is weak, and supply is expected to increase rapidly after rainfall. The next psychological resistance level is expected to be 265 yen

the benchmark December RSS3 contract closed up 6.8 yen on Friday at 260.8 yen per kilogram

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