SINGAPORE, Oct 24 (Reuters) –
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Japanese rubber futures edged lower on Thursday, as investors weighed easing weather-related supply disruptions and lower synthetic rubber prices against a weaker yen.
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The March Osaka Exchange (OSE) rubber contract JRUc6, 0#2JRU: was down 0.1 yen, or 0.03%, at 386.5 yen ($2.53) per kg as of 0210 GMT.
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The January rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 was down 135 yuan, or 0.74%, to 18,105 yuan ($2,542.12) per metric ton.
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The most active November butadiene rubber contract on the SHFE SHBRv1 fell 240 yuan, or 1.57%, to 15,090 yuan ($2,118.79) per metric ton.
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Upstream rubber supply is generally recovering, increasing pressure on prices, Chinese futures trading site Beite Futures said in a note.
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Less rains and isolated thundershowers are likely across the country, said top producer Thailand’s meteorological agency.
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The dollar last traded at 152.62 yen JPY=EBS after pushing a near three-month high against the currency on Wednesday, underpinned by expectations for a slower pace of U.S. rate cuts and growing bets of a possible second term for Donald Trump as the U.S. president. USD/
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A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/
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Chinese smartphone maker Xiaomi is expected to complete the expansion of its electric vehicle factory in mid-2025, government-backed Chinese media reported on Wednesday.
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The U.S.-China tech war is all but certain to heat up no matter whether Trump or Vice President Kamala Harris wins the Nov. 5 presidential election, with new efforts to slow the flow of Chinese smart cars and other imports into the U.S. expected.
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Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.
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The front-month November rubber contract on the Singapore Exchange’s SICOM platform STFc1 last traded at 193.8 U.S. cents per kg, down 0.3%.
($1 = 152.6300 yen)
($1 = 7.1220 yuan)
Reporting by Gabrielle Ng; Editing by Savio D’Souza