RUBBER PRICES: Spurred by Speculation of Higher Demand, Rubber Closes Stronger

Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, closed 0.33% or 0.70 points higher at 213.10 yen/kilogram (kg). Earlier, the rubber contract for April opened with an increase of 1.04% or 2.20 points at 214.60 yen/kg. On Wednesday (16/11/2016), the price of April rubber contracts closed up 6.04% or 12.10 points to the level of 212.40. As reported by Bloomberg, strengthening rubber prices in line with speculation of increased demand and the weakening Japanese yen. `Rubber strengthened amid a rally in copper and other industrial commodities in line with expectations of increased demand due to the US President-elect Donald Trump's infrastructure spending plan,` said Kazuhiko Saito, an analyst at Fujitomi brokerage, as quoted by Bloomberg. Meanwhile, the Japanese Yen exchange rate weakened 0.29% or 0.32 points to 109.40 against the US dollar at 14.17 WIB. Movement of April 2017 Rubber Contract Price on TOCOM Date Price (Yen / kg) Change 17/11/2016 213.10 + 0.33% 16/11/2016 212.40 + 6.04% 15/11/2016 200.30 + 1.32% 14/11/2016 197.70 - 3.80% 11/11/2016 205.50 + 3.47% Source: Bloomberg http://market.bisnis.com/read/20161117/94/603584/harga-karet-dipicu-spekulasi-kenaikan-permintaan-karet-ditutup-menguat