TOKYO: Japanese rubber futures logged a six-week high on Tuesday, extending gains into a fourth straight session, amid concerns over tighter supply and as solid economic data from top buyer China boosted investor sentiment. Osaka Exchange's (OSE) rubber contract for March delivery finished 1.7 yen, or 0.9%, higher at 200.2 yen ($1.9) per kg, ending above a key 200 yen level for the first time in six weeks. It hit the highest since Aug. 31 of 202.0 yen earlier in the session.
The International Tripartite Rubber Council (ITRC), which groups Thailand, Indonesia and Malaysia, warned last month it expected a decrease in production of natural rubber for rest of 2020, and a further decline into early 2021. The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 147.2 US cents per kg, up 0.5%.
China's imports grew at their fastest pace this year in September, while exports extended strong gains as more trading partners lifted coronavirus restrictions in a further boost to the world's second-biggest economy.
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