AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

SINGAPORE: Japanese rubber futures rose on Wednesday, buoyed by Higher synthetic rubber and oil prices, although gains were limited by a stronger yen.

The Osaka Exchange (OSE) rubber contract for December delivery was up 1.8 yen, or 0.57%, at 317.4 yen ($2.04) per kg, as of 0145 GMT.

The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery rose 85 yuan, or 0.59%, to 14,525 yuan ($1,996.37) per metric ton.

The most active September butadiene rubber contract on the SHFE was up 110 yuan, or 0.75%, at 14,800 yuan per metric ton.

Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb.

Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

Dollar/yen fell nearly 1% to 155.55 overnight and traded nearby at 155.78 early in the Asia session, as short-sellers bail out ahead of a central bank meeting.

Japanese futures rise

A stronger Japanese currency makes yen-denominated assets less affordable to overseas buyers.

China’s top economic planner said on Tuesday it would support high-quality companies to borrow medium- and long-term foreign debt, to support the development of the real economy, according to an official statement published online. China is the world’s top rubber consumer.

Thailand’s meteorological agency warned of heavy rains and accumulations that may cause flash flood and overflows from July 23-29. Thailand is the world’s top rubber producer.

The front-month rubber contract on Singapore Exchange’s SICOM platform for August delivery last traded at 162 U.S. cents per kg, up 1.1%.

Comments

Comments are closed.