Japanese rubber futures rise in line with Shanghai gains

SINGAPORE: Japanese rubber futures rose on Tuesday, tracking gains in the Shanghai market and stronger domestic equities, although advances were capped as worries over rising Covid-19 cases in top buyer China weighed on sentiment.

The Osaka Exchange rubber contract for April delivery was up 4.2 yen, or 2.0%, at 216.1 yen ($1.52) per kg as of 0205 GMT. The OSE will be closed on Wednesday for a public holiday in Japan.

The rubber contract on the Shanghai futures exchange for January delivery was up 290 yuan, or 2.3%, at 12,735 yuan ($1,781) per tonne. Japan’s benchmark Nikkei share average opened up 0.41%.

Mainland China’s Health Commission reported 28,127 new coronavirus cases for Nov. 21, compared with 27,095 new cases a day earlier.