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Japan futures post biggest weekly drop in one month



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Updates closing prices, adds analyst quote and details

SINGAPORE, July 19 (Reuters) -

  • Japanese rubber futures rose on Friday amid a weaker yen, although the market logged its biggest weekly drop in a month due to lack of fresh stimulus announcements from top consumer China.

  • The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: closed up 1.8 yen, or 0.57%, at 319.0 yen ($2.02) per kg. It lost 1.82% this week, its sharpest weekly drop since June 17.

  • The September rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 rose 80 yuan, or 0.55%, to finish at 14,595 yuan ($2,008.67) per metric ton. It fell 0.85% this week, posting its sixth consecutive weekly loss.

  • The yen JPY=EBS was at 157.72 per dollar, after touching a six-week high of 155.375 on Thursday. USD/

  • A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/

  • Chinese officials acknowledged the sweeping list of economic goals re-emphasised at the end of a key Communist Party meeting this week contained "many complex contradictions," pointing to a bumpy road ahead for policy implementation.

  • Following China's third plenum, which concluded on Thursday, officials reiterated wide-ranging economic policy goals, from modernizing industry to expanding domestic demand and curbing debt and property sector risks, without detailing implementation steps.

  • The lack of any clear policy measure disappointed speculative markets, said Jom Jacob, chief analyst at Indian analysis firm What Next Rubber.

  • Global demand for natural rubber is undergoing a persistently weak phase due to the "dominant influence" of China, added Jacob.

  • Many traders may remain cautious as they await more clarity on China's reaction to the plenum, said Farah Miller, CEO of independent rubber-focused data firm Helixtap Technologies.

  • The front-month August rubber contract on Singapore Exchange's SICOM platform STFc1 last traded at 162.7 U.S. cents per kg, down 0.2%.


($1 = 157.7600 yen)

($1 = 7.2660 yuan)




Reporting by Gabrielle Ng; Editing by Sherry Jacob-Phillips and Rashmi Aich

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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