Rubber prices increase

Rubber prices increase

SINGAPORE (AFP): Singapore's rubber futures prices ended firmer yesterday on huge turnover in line with the steadier Japanese markets, dealers said.

"Kobe and Tokyo were up about five yen towards the end of trading, which managed to influence our prices to rise as well," said a dealer.

Dealers said European buyers were short-covering on all three grades of rubber for most of the day while Indonesian players were concentrating mainly on TSR 20.

Turnover was higher at 11,000 tons compared with Tuesday's volume of 2,000 tons, dealers said. At 10:00 GMT, Basis January RSS 1 was traded at 217.00 Singapore cents, Basis January RSS 3 at 142.50 U.S. cents, and Basis January TSR 20 at 223.00 Singapore cents.