TOKYO: Japanese rubber futures edged lower on Thursday as fresh surges in coronavirus cases across the world, including top buyer China, stoke worries about more lockdowns and lower demand for the commodity. Osaka Exchange's rubber contract for June delivery finished 0.8 yen, or 0.3%, lower at 238.4 yen ($2.3) per kg.
The rubber contract on the Shanghai futures exchange for May delivery rose 35 yuan to finish at 14,265 yuan ($2,206) per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 155.4 US cents per kg, down 0.7%.
China reported its biggest daily jump in new COVID-19 cases in more than 10 months as infections in northeastern Heilongjiang province nearly tripled, underscoring the growing threat ahead of a major national holiday. But a hefty US COVID-19 relief package, which President-elect Joe Biden is due to unveil on Thursday.
Comments
Comments are closed for this article.