Japanese rubber futures decline on profit-taking

SINGAPORE: Japanese rubber futures lost ground on Monday as traders booked profits on the previous week’s gains caused by concerns of supply disruptions, while softer inflation data from top consumer China also dented sentiment.

The Osaka Exchange’s (OSE) May rubber contract declined 7.4 yen, or 1.96%, to finish at 371.0 yen ($2.47) per kg. The May rubber contract on the Shanghai Futures Exchange (SHFE) closed down 160 yuan, or 0.85%, at 18,740 yuan ($2,575.17) per metric ton. Top rubber producer Thailand’s meteorological agency on Friday said “farmers should prepare for crop damage” during Dec. 6-7 and Dec. 11-12, warning of “changeable weather” in the upper part of the country.