Rubber advanced to a three-month high on optimism that demand will improve as oil climbs, increasing the appeal of the commodity used to make tyres.
The contract for delivery in May on the Tokyo Commodity Exchange rose as much as 1.5% to 287.9 yen a kilogramme ($2,797 a metric ton), the highest level for a most-active contract since Sept 9. Futures traded at 285.8 yen at 11:28am local time, paring losses to 5.5% this year.
Reports on Monday may signal growth in factory output for the euro region and the US, according to Bloomberg surveys, after Japan’s Tankan index beat estimates, indicating confidence among large manufacturers was the highest since 2007.
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