AIRLINK 180.36 Increased By ▲ 6.57 (3.78%)
BOP 11.17 Decreased By ▼ -0.19 (-1.67%)
CNERGY 8.53 Decreased By ▼ -0.11 (-1.27%)
CPHL 100.41 Decreased By ▼ -1.23 (-1.21%)
FCCL 45.96 Decreased By ▼ -0.98 (-2.09%)
FFL 15.81 Increased By ▲ 0.42 (2.73%)
FLYNG 27.89 Increased By ▲ 0.10 (0.36%)
HUBC 142.47 Decreased By ▼ -1.28 (-0.89%)
HUMNL 13.01 Increased By ▲ 0.02 (0.15%)
KEL 4.52 No Change ▼ 0.00 (0%)
KOSM 5.84 Increased By ▲ 0.08 (1.39%)
MLCF 61.90 Decreased By ▼ -0.43 (-0.69%)
OGDC 214.32 Increased By ▲ 2.30 (1.08%)
PACE 5.92 Increased By ▲ 0.45 (8.23%)
PAEL 46.83 Decreased By ▼ -0.24 (-0.51%)
PIAHCLA 17.84 Decreased By ▼ -0.24 (-1.33%)
PIBTL 10.62 Decreased By ▼ -0.24 (-2.21%)
POWER 12.17 Decreased By ▼ -0.09 (-0.73%)
PPL 172.71 Increased By ▲ 1.43 (0.83%)
PRL 36.02 Increased By ▲ 0.14 (0.39%)
PTC 23.26 Decreased By ▼ -0.10 (-0.43%)
SEARL 96.06 Decreased By ▼ -0.90 (-0.93%)
SSGC 41.34 Decreased By ▼ -0.37 (-0.89%)
SYM 14.44 Increased By ▲ 0.29 (2.05%)
TELE 7.38 Increased By ▲ 0.28 (3.94%)
TPLP 10.08 Increased By ▲ 0.12 (1.2%)
TRG 67.90 Increased By ▲ 4.01 (6.28%)
WAVESAPP 10.00 Decreased By ▼ -0.02 (-0.2%)
WTL 1.34 Increased By ▲ 0.01 (0.75%)
YOUW 3.81 Increased By ▲ 0.09 (2.42%)
BR100 12,481 Increased By 33.6 (0.27%)
BR30 38,008 Increased By 88.3 (0.23%)
KSE100 116,776 Increased By 385.5 (0.33%)
KSE30 35,849 Increased By 153 (0.43%)

SINGAPORE: Japanese rubber futures reversed course to end higher on Wednesday, helped by a weaker yen, although soft economic data from top consumer China capped further gains.

The Osaka Exchange (OSE) rubber contract for December delivery rose 4.7 yen, or 1.47%, to finish at 324.3 yen ($2.01) per kg. The September rubber contract on the Shanghai Futures Exchange (SHFE) closed down 20 yuan, or 0.14%, at 14,625 yuan ($2,010.12) per metric ton.

The most active August butadiene rubber contract on the SHFE was down 320 yuan, or 2.14%, at 14,640 yuan (2,012.18) per metric ton. The dollar rose 0.07% to 161.43 yen as the currency pair traded in a tight range ahead of the Bank of Japan’s meeting at the end of the month. A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers.

China’s consumer prices grew for a fifth month in June but missed expectations, while producer price deflation persisted, with domestic demand mired on a slow recovery track despite support measures for the world’s second-largest economy.

Oil prices dipped on Wednesday as the impact from Hurricane Beryl dissipated and inflation data highlighted stubbornly weak consumer demand in top crude importer China.

Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. Markets remain “choppy and directionless” as they weigh the impact of supply and demand factors, said a Singapore-based trader.

More information and time are needed to determine the market’s direction, the trader added. The front-month August rubber contract on Singapore Exchange’s SICOM platform last traded at 163.2 US cents per kg, up 0.1%.

Comments

Comments are closed.