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Japan futures fall nearly 2% on stronger yen, softer oil prices



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SINGAPORE, July 25 (Reuters) -

  • Japanese rubber futures fell nearly 2% on Thursday, weighed down by a stronger yen and lower oil prices.

  • The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: was down 6.2 yen, or 1.92%, at 316.0 yen ($2.07) per kg, as of 0145 GMT.

  • The September rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 fell 170 yuan, or 1.17%, to 14,345 yuan ($1,975.98) per metric ton.

  • The yen rose more than 0.5% to an intraday high of 152.835 per dollar, its strongest in over 2-1/2-months, as traders abandoned short yen bets in the run up to the BOJ's July meeting, where a rate hike remains on the cards. USD/

  • Sources told Reuters that the central bank was likely to debate whether to raise interest rates next week and unveil a plan to roughly halve bond purchases, signalling its resolve to steadily unwind its massive monetary stimulus.

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

  • Japan's benchmark Nikkei average .N225 fell 3%, dipping below the 38,000 level for the first time since June 17. .T

  • Oil prices eased as concerns over weak demand in China, the world's largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session. 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 firm BYD's 002494.SZ electric vehicle sales in Singapore jumped 83% in the first half of this year from the entire 2023 level.

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

  • The front-month August rubber contract on Singapore Exchange's SICOM platform STFc1 last traded at 160 U.S. cents per kg, down 1.2%.


($1 = 152.7900 yen)

($1 = 7.2597 yuan)




Reporting by Gabrielle Ng; Editing by Subhranshu Sahu

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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