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JAKARTA, Dec 12 (Reuters): Tokyo rubber futures hit a 17-year high today as supply tightness and strong oil prices kept funds keen on buying, dealers said.
The benchmark May 2006 contract 0 JRU: on the Tokyo Commodity Exchange rose to 227.6 yen per kg today trade, or 6.0 yen higher than Friday's close and its highest since 1988, when the most active contract hit a high of 228.2 yen a kg.
Other contracts rose by between 5.8 yen and 7.7 yen.
Several deals were clinched on Monday for Indonesian tyre- grade SIR20 at 75.5 cents a pound ($1.66) a kg, free-on-board (FOB) Belawan on Sumatra island, for March shipments, compared with $1.61 a kg last Friday.
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