SINGAPORE: Japanese rubber futures pared early losses to rebound on Wednesday, tracking a surge in butadiene rubber prices, although top consumer China’s soft economic data weighed on sentiment and capped gains.
The Osaka Exchange (OSE) rubber contract for November delivery closed up 4.4 yen, or 1.27%, at 350.9 yen ($2.23) per kg to recover slightly from Tuesday’s 2.81% drop.
The natural rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery rose 45 yuan to finish at 15,805 yuan ($2,178.95) per metric ton.
Oil prices ticked higher on Wednesday amid upbeat global demand views from the US Energy Information Administration and OPEC, reinforced by industry data showing US crude oil inventories fell more than expected last week.
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