Rubber prices close higher

Rubber prices close higher

SINGAPORE (AFP): Singapore rubber futures prices ended higher yesterday as the local market took the cue from an afternoon surge in Japan where speculators pushed prices up.

Dealers said prices dropped in the morning as many manufacturers had already stocked up over the last month.

"But in the afternoon Japan jumped up and Singapore followed," said a dealer.

Turnover rose to 9,845 tons from 8,875 tons on Wednesday.

March RSS 1 closed at 253.50 Singapore cents, March RSS 3 at 172.00 U.S. cents and March TSR 20 at 254.00 Singapore cents, according to the Singapore Commodity Exchange Ltd.