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Japan futures snap three-day losing streak on stronger synthetic prices



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SINGAPORE, July 17 (Reuters) -

  • Japanese rubber futures rebounded after a three-day losing streak on Monday, tracking synthetic rubber prices higher, while a weaker yen also lent support.

  • The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: was up 3.8 yen, or 1.19%, at 322.4 yen ($2.03) per kg, as of 0150 GMT.

  • The September rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 was up 150 yuan, or 1.04%, at 14,560 yuan ($2,003.55) per metric ton.

  • The most active September butadiene rubber contract on the SHFE SHBRv1 was up 150 yuan, or 1.04%, at 14,635 yuan ($2,013.87) per metric ton.

  • The yen JPY=EBS was last 0.1% lower at 158.47, as traders remained on alert for any intervention from Japanese authorities to prop up the currency after they had likely done so last week. USD/

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

  • Oil prices were steady on Wednesday, with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in China clashed with the prospect of declining U.S. oil stockpiles.

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

  • European Union governments exposed divided views on the merits of EU tariffs on imports of China-built electric vehicles in a non-binding but still influential vote.

  • The European Commission, which oversees the bloc's trade policy, has set provisional duties of up to 37.6% on EVs imported from China and canvassed EU member views in a so-called advisory vote.

  • The European Commission has signalled to Volkswagen _p.DE and BMW BMWG.DE that it may consider lowering tariffs on the two carmakers' imports of China-made EVs.

  • The front-month August rubber contract on Singapore Exchange's SICOM platform STFc1 last traded at 162.8 U.S. cents per kg, up 0.9%.


($1 = 158.5100 yen)

($1 = 7.2671 yuan)




Reporting by Gabrielle Ng; Editing by Sherry Jacob-Phillips

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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