TOKYO: Japanese rubber futures jumped on Friday, ending the first month of 2021 firmer, amid hopes of an economic growth in China as new COVID-19 cases in the top rubber buyer fell while a weaker yen against the dollar also lent support.
Osaka Exchange’s rubber contract for July delivery finished up 8.6 yen, or 3.8%, at 236.0 yen ($2.3) per kg. It marked a 4.0% monthly gain, though it posted a 0.8% loss for the week, logging a third consecutive weekly loss.
The rubber contract on the Shanghai futures exchange for May delivery soared 270 yuan to finish at 14,405 yuan ($2,235) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for February delivery last traded at 161.5 US cents per kg, up 4.0%.
Rubber inventories in warehouses monitored by the Shanghai Futures Exchange unchanged, the exchange said on Friday.
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