Japan futures edge higher on firm Thai physical prices, tight supply

By Reuters News

By Emily Ou Yong

Oct 13 (Reuters) - Japanese rubber futures edged higher on Tuesday, supported by firmer Thai physical prices and signs of tight supply, even as weakness in top consumer China's auto sector weighed on market sentiment.

  • The Osaka Exchange (OSE) rubber contract for March delivery , was up 3.1 yen, or 0.67%, at 462.9 yen ($2.92) per kg as of 0220 GMT. The market was closed on Monday for a holiday

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 110 yuan, or 0.53%, to 20,670 yuan ($3,087.70) per metric ton

  • The most-active November butadiene rubber contract on the SHFE slumped 415 yuan, or 2.5%, to 16,185 yuan per ton

  • Prices of Thailand's benchmark export-grade smoked rubber sheet (RSS3) and block rubber were up 1.34% and 1.03%, respectively

  • Short-term natural rubber warehouse receipts remain low, far below levels in previous years, analysts from broker Guangzhou Futures said in a note

  • Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.2% from the last release on September 30, the exchange said on Friday

  • Malaysia's natural rubber exports fell 18.2% month-on-month to 33,426 tons in August, even as production rose 9.6% to 29,510 tons, data from the Department of Statistics Malaysia showed on Monday

  • China's passenger vehicle sales fell 28.1% year-on-year to 1.63 million units in September, after a 23.7% decline in August, data from the China Passenger Car Association showed on Monday

  • Automobile sales could influence the pace of automobile manufacturing, which involves using rubber-made tyres

  • The European Union and China reached a deal to limit Chinese hybrid car imports to 350,000 vehicles a year, with measures to take effect from early December, an EU Commission official said on Monday

  • The curbs add to pressure on Chinese automakers already facing slowing domestic sales

  • The front-month rubber contract on Singapore Exchange's SICOM platform for January delivery last traded at 262 U.S. cents per kg, up 0.3%

($1 = 158.2900 yen)

($1 = 6.6943 Chinese yuan)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.