Japan rubber futures rise

TOKYO: Japanese rubber futures rose more than 1% on Tuesday, after data showed China’s factory and service sector activity rose sharply in the first two months of 2021, highlighting a recovery in the world’s biggest rubber consumer.

Osaka Exchange’s rubber contract for August delivery finished 1.4 yen, or 0.5%, higher at 273.8 yen per kg.

China’s factory and retail sector activity surged in the first two months of the year, beating expectations, as the economy consolidated its brisk recovery from the coronavirus paralysis of early-2020.

The rubber contract on the Shanghai futures exchange for May delivery edged lower to finish at 15,150 yuan per tonne.