Japan futures gain as Thai exports fall, oil rebounds

By Reuters News

By Emily Ou Yong

Sept 28 (Reuters) - Japanese rubber futures edged higher on Monday, supported by a fall in exports from top producer Thailand and a rebound in oil prices, though gains were limited by weak tyre demand ahead of China's holidays.

  • The Osaka Exchange (OSE) rubber contract for March delivery , was up 0.9 yen, or 0.2%, at 453 yen ($2.87) per kg, as of 0210 GMT.

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery rose 85 yuan, or 0.44%, to 19,510 yuan ($2,905.57) per metric ton.

  • The most-active November butadiene rubber contract on the SHFE gained 195 yuan, or 1.27%, to 15,570 yuan per ton.

  • Prices of Thailand's benchmark export-grade smoked rubber sheet (RSS3) and block rubber were up 0.55% and 0.37%, respectively.

  • Thailand's exports of natural rubber totalled 1.62 million tons in the first eight months of 2026, down 10% year-on-year, data from rubber information provider Qinrex showed.

  • Production outside China is recovering slowly after persistent rainfall in major producing areas, while warehouse receipts for domestic rubber futures have declined continuously and remain low year-on-year, analysts from broker Huatai Futures said in a note.

  • Oil prices rebounded more than 1% on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated. O/R

  • Higher oil and butadiene prices have lifted synthetic rubber costs, boosting demand for natural rubber as a substitute, analysts from broker Guoyuan Futures said in a note.

  • Prices have broken through multi-year highs, though the 14-day relative strength index at 73.4% signals overbought conditions and occasional corrections are expected, Japan Exchange Group said in a report on Monday.

  • Tyre demand will keep declining during maintenance shutdowns over China's long holiday, keeping demand weak in the short term, the Huatai analysts said.

  • The front-month rubber contract on Singapore Exchange's SICOM platform for December delivery was last flat at 251.5 U.S. cents per kg. It touched its highest since May 22, 2013, earlier in the day.

($1 = 157.7100 yen)

($1 = 6.7147 Chinese yuan)

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