BEIJING: Japanese rubber futures rose on Tuesday, even as Shanghai rubber fell on weak demand in China
Osaka Exchange’s rubber contract for June delivery finished 1.6 yen ($0.0138) higher at 239.6 yen per kg. The rubber contract on the Shanghai futures exchange for May delivery fell 135 yuan ($21.18) to finish at 14,695 yuan per tonne
Shanghai rubber prices were moving within a limited range as falling inventories and delayed shipments kept supporting prices, while weak demand and expected falling operation rate at tyre plants ahead of the Spring festival holiday weighed down on the commodity, said Wenting Zhao, analyst with Dongwu Futures The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 174.3 US cents per kg, down 0.5%.
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