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Japan futures slip on stronger yen, soft Chinese data



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SINGAPORE, July 31 (Reuters) -

  • Japanese rubber futures dipped on Wednesday, weighed down by a stronger yen and soft economic data from top consumer China, although firmer oil prices capped losses.

  • The Osaka Exchange (OSE) rubber contract for January delivery JRUc6, 0#2JRU: was down 1.1 yen, or 0.35%, at 314.0 yen ($2.06) per kg as of 0155 GMT.

  • The September rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 was down 100 yuan, or 0.7%, at 14,120 yuan ($1,952.65) per metric ton.

  • The yen JPY=EBS hovered near a 2-1/2-month high on Wednesday, eking out a slight gain to stand 0.06% higher at 152.65 per dollar, ahead of a key Bank of Japan (BOJ) policy decision where the central bank is set to detail plans to taper its huge bond buying and a rate hike is on the cards. USD/

  • A stronger currency makes yen-denominated assets less affordable to overseas buyers. FRX/

  • China's manufacturing activity in July shrank for a third month, an official factory survey showed on Wednesday, bolstering expectations Beijing will need to launch more stimulus as a protracted property crisis and job insecurity drag on growth.

  • Oil futures clawed back some losses on Wednesday, recovering from 7-week lows as geopolitical tensions rose after Israel retaliated against an attack by Hezbollah, although prices remained under pressure from concerns about demand in China. O/R

  • Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

  • Chinese EV maker BYD 002594.SZ is looking to enter the Canadian automotive market, according to a regulatory document filed earlier this month.

  • Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.

  • The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery STFc1 was flat at 161.8 U.S. cents per kg.


($1 = 152.4400 yen)

($1 = 7.2312 yuan)




Reporting by Gabrielle Ng; Editing by Mrigank Dhaniwala

For morning and afternoon prices at Thailand's state-run central rubber market, click on RUB-BKK3.
For other physical rubber prices in Thailand, click on RUB-BKK1, RUB-BKK2.
For more details on Indonesian and Malaysian prices click on RURKJK and RUQG.
* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets:

- Tokyo rubber futures -- 0#JRU:
- Shanghai rubber futures -- 0#SNR:
- Singapore rubber futures -- 0#SRS:0#SRU:0#STF:
- Thai rubber futures -- 0#ARU:0#ASR20:
- All rubber news RUB
- Tokyo rubber report RUB/T
- Shanghai rubber report RUB-CN
- Thailand rubber report RUB/TH
- Asian rubber report RUB/AS

For Related News and other topics, double click on one of these codes: SPEED GUIDES RUBBER1, SOFTS/NEWS1
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