SINGAPORE: Japanese rubber futures fell on Monday tracking losses in raw material prices and the Nikkei share average.
The Osaka Exchange rubber contract for September delivery finished 3.5 yen, or 1.3 %, lower at 262.0 yen ($2.07) per kg, marking its biggest daily percentage decrease since April 7.
OSE prices were down today as latex prices weakened, which could have been due to factories buying less over the Songkran holiday, said a Singapore-based trader.
Thai latex prices hit their lowest level since Feb. 14 at 50.80 baht ($1.51) per kg on Monday.
Japan’s benchmark Nikkei share average was down 1.1% on Monday.
Japan’s top representative in Shanghai has urged China’s most populous city to address concerns of Japanese businesses over losses and other disruptions caused by lockdowns aimed at containing a COVID-19 surge.
The rubber contract on the Shanghai futures exchange for September delivery rose 75 yuan to finish at 13,475 yuan ($2,115.85) per tonne.
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