TOKYO: Japanese rubber futures gained on Monday, underpinned by tight natural rubber supply and hopes that Middle East demand will return as the U.S. and Iran have reached a preliminary agreement to end the war.
The Osaka Exchange (OSE) rubber contract for November delivery was up 6.8 yen, or 1.6%, at 432.9 yen ($2.70) per kg, as of 0213 GMT.
The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery rose 260 yuan, or 1.48%, to 17,825 yuan ($2,637.58) per metric ton.
The most-active July butadiene rubber contract on the SHFE gained 120 yuan, or 0.9%, to 13,500 yuan per ton.
Global rubber futures ended lower last week across all exchanges amid persistent selling pressure and liquidation of long positions, the Japan Exchange Group said.
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