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Japan futures rise on firmer synthetic and oil prices



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SINGAPORE, July 24 (Reuters) -

  • Japanese rubber futures rose on Wednesday, buoyed by higher synthetic rubber and oil prices, although gains were limited by a stronger yen.

  • The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: was up 1.8 yen, or 0.57%, at 317.4 yen ($2.04) per kg, as of 0145 GMT.

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 rose 85 yuan, or 0.59%, to 14,525 yuan ($1,996.37) per metric ton.

  • The most active September butadiene rubber contract on the SHFE SHBRv1 was up 110 yuan, or 0.75%, at 14,800 yuan per metric ton.

  • Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. 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.

  • Dollar/yen JPY=EBS fell nearly 1% to 155.55 overnight and traded nearby at 155.78 early in the Asia session, as short-sellers bail out ahead of a central bank meeting. USD/

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

  • China's top economic planner said on Tuesday it would support high-quality companies to borrow medium- and long-term foreign debt, to support the development of the real economy, according to an official statement published online. China is the world's top rubber consumer.

  • Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash flood and overflows from July 23-29. Thailand is the world's top rubber producer.

  • The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery STFc1 last traded at 162 U.S. cents per kg, up 1.1%.


($1 = 155.2900 yen)

($1 = 7.2757 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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