SINGAPORE: Japanese rubber futures were flat on Friday, as domestic automotive woes and weaker Tokyo stocks outweighed hopes of natural rubber demand recovery in China after Beijing declared an initial success in stemming its latest COVID-19 outbreak.
The Osaka Exchange rubber contract for November delivery was at 254.1 yen ($1.91) per kg, as of 0144 GMT, unchanged from the previous day. The benchmark was set for its first weekly drop in five.
Toyota Motor Corp said on Thursday it plans an additional domestic factory line production suspension in June and July due to semiconductor shortages and a COVID outbreak at one of its suppliers. Japan’s benchmark Nikkei share average was down 2.6%. The front-month rubber contract on Singapore Exchange’s SICOM platform for July delivery last traded at 161.1 US cents per kg, down 0.4%.