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Wednesday, August 10, 2022

Rubber: Japan futures fall

TOKYO: Japanese rubber futures fell on Tuesday as Shanghai futures were pressured by an increase in COVID-19 cases in China and as persistent fears about a global recession also weighed on sentiment.

The Osaka Exchange rubber contract for December delivery closed down 0.9 yen, or 0.3%, at 257.3 yen ($1.9) per kg.

The rubber contract on the Shanghai futures exchange for September delivery fell 175 yuan to finish at 12,900 yuan ($1,925) per tonne.

Cities in eastern China tightened COVID-19 curbs on Sunday as coronavirus clusters emerged.

Investors shrugged off positive data from Japan, where the country’s services sector activity expanded at the fastest pace in over eight years in June as the easing of COVID-19 curbs boosted sentiment among businesses such as those in tourism.

The front-month rubber contract on Singapore Exchange’s SICOM platform for August delivery last traded at 162.5 US cents per kg, down 1.0%.

Rubber: Japan futures fall

Source: Brecorder

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