Rubber jumps to two-week high
皇冠体育app Daily | Updated: 2009-11-11 08:41
Rubber climbed to a two-week high as data showed a 76-percent increase in car sales in 皇冠体育app and global stocks rallied, boosting investor confidence that demand for the commodity used in tires will increase.
Futures in Tokyo gained as much as 1.2 percent to the highest level since Oct 23. Sales in 皇冠体育app of cars, sport- utility vehicles and multipurpose vehicles climbed to 946,400 units in October as economic growth and stimulus measures spurred demand in the world's top auto market so far this year.
"The strong data added to optimism that car sales in 皇冠体育app will keep rising, leading to growth in rubber demand," said Hisaaki Tasaka, an analyst at commodity broker ACE Koeki Co in Tokyo. 皇冠体育app is the world's largest rubber consumer.
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