![[Geojit Comtrade] Daily report on Natural Rubber: November 29, 2012](https://img.globalrubbermarkets.com/2024/08/geojit-comtrade-daily-report-on-natural-rubber-november-29-2012.jpg?fit=336%2C293&ssl=1)
SINGAPORE, Sept 6 (Reuters) –
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Japanese rubber futures rose on Friday after four straight sessions of losses, buoyed by wet weather in top producer Thailand and firmer oil prices, but were set for a weekly fall.
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The Osaka Exchange (OSE) rubber contract for February delivery JRUc6, 0#2JRU: was up 3.5 yen, or 1.01%, at 351 yen ($2.45) per kg as of 0150 GMT.
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The contract has lost 6.42% so far this week.
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The January rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 rose 70 yuan, or 0.43%, to 16,255 yuan ($2,293.47) per metric ton.
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Thailand’s meteorological agency warned of heavy to very heavy rains that may cause flash flood from Sept. 8-11.
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Oil prices edged up as investors weighed a big withdrawal from U.S. crude inventories and a delay to production hikes by OPEC+ producers against mixed U.S. employment data. O/R
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Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.
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The dollar was steady at 143.25 yen JPY=EBS, after dipping to 142.855 overnight for the first time since Aug. 5, pressured by a slide in U.S. Treasury yields. USD/
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A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers. FRX/
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China still has room to lower the amount of cash banks must hold as reserves while it faces some constraints in cutting interest rates, a central bank official said on Thursday, as it seeks to bolster the country’s flagging economic recovery.
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The People’s Bank of China, which has steadily reduced interest rates and injected liquidity this year, is under pressure to do more to ensure the economy grows around 5% this year, in line with the government’s target.
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The front-month October rubber contract on Singapore Exchange’s SICOM platform STFc1 last traded at 177.5 U.S. cents per kg, up 0.3%.
($1 = 143.2700 yen)
($1 = 7.0875 yuan)
Reporting by Gabrielle Ng; Editing by Subhranshu Sahu
