SINGAPORE: Japanese rubber futures extended losses for a third straight session on Friday, tracking losses in the Shanghai market, as concerns over fresh lockdown measures in top consumer China amid rising Covid-19 cases dented demand sentiment.
The Osaka Exchange rubber contract for April delivery was down 1.1 yen, or 0.5%, at 215.0 yen ($1.51) per kg as of 0200 GMT. The benchmark contract has gained about 0.7% for the week.
The rubber contract on the Shanghai futures exchange for January delivery was down 10 yuan, or 0.1%, at 12,560 yuan ($1,749) per tonne. Japan’s benchmark Nikkei share average rose 3.00% on Friday.
Mainland China’s Health Commission reported 10,729 new coronavirus cases for Nov 10, compared with 9,005 new cases a day earlier. Japan’s wholesale prices rose 9.1% in October from a year earlier, slowing from the previous month’s record gain but remaining at high levels as the weak yen continued to inflate the cost of raw material imports for companies.
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