The hottest TOCOM rubber futures closed higher on

TOCOM rubber futures closed higher on the 24th

TOCOM rubber (263201350.00,5.41%) futures manufacturing technology fell behind, and closed higher on the 24th. It once hit the largest one-day increase in nearly a month, as concerns about the European debt crisis were eased and tire manufacturer Bridgestone will increase production

for spring and other elastic components, the comprehensive media said on October 24 that the rubber futures of the Tokyo industrial products exchange (TOCOM) recorded the largest increase in nearly a month on the 24th, as European leaders formulated plans to aid banks, easing the fear that the European debt crisis will drag down the global economic recovery and weaken the demand for raw materials

TOCOM March rubber futures rose 4.7% on the 24th, the largest one-day increase since September 27, to close at 295.1 yen/kg (about $3871/MT)

analysts said that rubber rebounded with other industrial commodities, as concerns about Europe or the inability to control the crisis were eased

rubber futures also rose because the technical indicators of Puli, the world's largest tire manufacturer, reached the international advanced level. Bridgestone Corp said that the company would spend 300billion yen in 2012 to increase production and meet the growing demand of emerging markets. Akihiro ETO, chief financial officer of Bridgestone, said that the company would establish a factory in the United States to produce aircraft tires and increase its production capacity in China. ETO said, "at present, demand in emerging markets exceeds supply, and we plan to increase production capacity to meet demand as soon as possible"

rubber futures delivered in January on the Shanghai futures exchange closed up 6.5% to 26320 yuan ($4128)/ton on the 24th

according to the association of natural rubber producing countries, the output of natural rubber in its member countries is expected to increase by 6% to 10.06 million tons in 2011 and 9.5 million tons in 2010

according to the implementation of the "one country, two systems" policy and the basic law of Thai Rubber Research Institute, the spot price of Thai rubber fell 3.2% to 121.6 baht (US $3.91)/kg on the 21st. The Thai rubber market was closed on the 24th due to a public holiday

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