RUBBER-Japan futures climb on Nikkei rally, China's return from holiday
Home » RUBBER-Japan futures climb on Nikkei rally, China's return from holiday

RUBBER-Japan futures climb on Nikkei rally, China's return from holiday

by Inkhabar webdesk
RUBBER-Japan futures climb on Nikkei rally, China's return from holiday

(Updates prices to market close) Oct 9 (Reuters) – * Japanese rubber futures rose on Thursday, tracking the Nikkei and supported by trade resuming in China following the National Day holiday. * The Osaka Exchange (OSE) rubber contract for March delivery was up 3.1 yen, or 1.01%, at 310 yen ($2.03) per kg. * The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery rose 235 yuan, or 1.55%, to 15,295 yuan ($2,145.49) per metric ton. * The most-active November butadiene rubber contract on the SHFE gained 150 yuan, or 1.34%, to 11,325 yuan per ton. * Trading resumed in Chinese markets after the conclusion of the National Day holiday. * Japan's Nikkei climbed 1.8% to finish the day at a new record high. * Brazil's auto sales rose 7.9% in September to 243,230 units, though production decreased 1.5% to 243,405 units. * Brazil is home to the largest car market in South America. * Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres. * Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows from October 13-15. * The yen was slightly stronger at 152.55 per dollar, having slipped to an eight-month low of 153 per dollar overnight. * A stronger Japanese currency makes yen-denominated assets less affordable to overseas buyers. * Oil prices were little changed as investors weighed a ceasefire deal in Gaza against stalled peace talks in Ukraine. * Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. * The front-month rubber contract on Singapore Exchange's SICOM platform for November delivery last traded at 172.5 U.S. cents per kg, up 1.5%. ($1 = 152.9900 yen) ($1 = 7.1289 Chinese yuan) (Reporting by Lucas Liew; Editing by Subhranshu Sahu and Janane Venkatraman)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

You may also like