TOKYO: Japanese rubber futures fell on Friday for a third straight day as widening restrictions by many countries to slow the spread of the Omicron COVID-19 variant tempered investor optimism about the economic recovery.
The Osaka Exchange rubber contract for May delivery was down 1.7 yen, or 0.7%, at 227.0 yen ($2.0) per kg as of 0320 GMT, hovering near a 3-week low hit on the previous day.
The benchmark was headed for a weekly loss of more than 5%.
British Prime Minister Boris Johnson on Wednesday announced tougher COVID-19 restrictions in England, ordering people to work from home and wear masks in public places, while China has halted group tourist trips from Guangdong.
China’s domestic air traffic, once the world’s envy after a fast rebound during the pandemic, is faltering due to a zero-COVID policy that has led to tighter travel rules in Beijing and weaker consumer confidence after repeated small outbreaks.
But the rubber contract on the Shanghai futures exchange for May delivery was up 105 yuan, or 0.7%, at 14,490 yuan ($2,276) per tonne on Friday. The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 170.3 US cents per kg, unchanged from the previous day.
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