Key TOCOM Rubber Contract Up 3 Pct On Short-Covering

The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery rose significantly on Wednesday (Mar 16) on short-covering and supply concerns.
"Prices rebound in line with stock market and investors buy back contracts on news that Asian government would push physical prices higher," said a Tokyo-based dealer.
The benchmark contract rose 3.2 percent to the session high of 364.5 yen ($4.51) per kg, from Tuesday's (Mar 15) close of 353.0 yen per kg.
(Reuters, March 16, 2011)