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Rubber Climbs to Seven-Month High on Japan Stimulus Optimism

Dec. 19 (Bloomberg) -- Rubber advanced to the highest level in more than seven months as speculation that the Bank of Japan will add monetary stimulus weakened the nation’s currency, boosting the appeal of yen-based contracts.

Rubber for delivery in May gained 0.7 percent to end at 287.7 yen a kilogram ($3,410 a metric ton) on the Tokyo Commodity Exchange, the highest level for the most-active contract at close since May 10. Futures have advanced 9.2 percent this year.

The benchmark Nikkei 225 Stock Average rose above 10,000 for the first time since April on prospects the Bank of Japan will expand stimulus at a two-day policy meeting that ends tomorrow. The yen traded near the weakest level since April last year against the dollar.

“Rubber was supported by the weak yen,” Gu Jiong, an analyst at commodity broker Yutaka Shoji Co., said by phone from Tokyo. Rising inventories in Shanghai limited the gains, he said.

Natural-rubber inventories monitored by the Shanghai Futures Exchange increased 1,131 tons to 95,927 tons, the highest since March 2010, the bourse said Dec. 14. China is the world’s biggest consumer of rubber.

The contract for delivery in May closed little changed at 25,280 yuan ($4,057) a ton on the SHFE. Thai rubber free-on-board rose 0.5 percent to 96.65 baht ($3.16) a kilogram today, according to the Rubber Research Institute of Thailand.

To contact the reporter on this story: Aya Takada in Tokyo at

To contact the editor responsible for this story: James Poole at

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