AIRLINK 177.00 Decreased By ▼ -0.56 (-0.32%)
BOP 11.19 Increased By ▲ 0.14 (1.27%)
CNERGY 8.32 Increased By ▲ 0.15 (1.84%)
FCCL 48.25 Increased By ▲ 0.93 (1.97%)
FFL 16.45 Increased By ▲ 0.33 (2.05%)
FLYNG 27.35 No Change ▼ 0.00 (0%)
HUBC 145.75 Decreased By ▼ -1.16 (-0.79%)
HUMNL 13.64 Increased By ▲ 0.13 (0.96%)
KEL 4.51 Increased By ▲ 0.01 (0.22%)
KOSM 5.93 Increased By ▲ 0.02 (0.34%)
MLCF 63.14 Increased By ▲ 1.12 (1.81%)
OGDC 233.90 Decreased By ▼ -0.78 (-0.33%)
PACE 5.85 Increased By ▲ 0.05 (0.86%)
PAEL 45.94 Decreased By ▼ -0.47 (-1.01%)
PIAHCLA 18.02 Decreased By ▼ -0.10 (-0.55%)
PIBTL 10.70 Increased By ▲ 0.13 (1.23%)
POWER 12.14 Increased By ▲ 0.15 (1.25%)
PPL 190.71 Decreased By ▼ -1.09 (-0.57%)
PRL 37.55 Increased By ▲ 0.23 (0.62%)
PTC 23.15 Decreased By ▼ -0.05 (-0.22%)
SEARL 101.55 Increased By ▲ 0.66 (0.65%)
SSGC 39.25 Decreased By ▼ -0.46 (-1.16%)
SYM 14.98 Decreased By ▼ -0.05 (-0.33%)
TELE 7.92 Increased By ▲ 0.08 (1.02%)
TPLP 11.12 Increased By ▲ 0.01 (0.09%)
TRG 66.79 Decreased By ▼ -0.50 (-0.74%)
WAVESAPP 11.25 Decreased By ▼ -0.10 (-0.88%)
WTL 1.37 Increased By ▲ 0.01 (0.74%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 13,006 Increased By 199.5 (1.56%)
BR30 39,668 Decreased By -34.9 (-0.09%)
KSE100 120,100 Increased By 1161.4 (0.98%)
KSE30 37,216 Increased By 459.4 (1.25%)

SINGAPORE: Japanese rubber futures advanced for the ninth consecutive day on Friday, and logged the largest monthly rise in almost four years, buoyed by continued supply disruptions amid wet weather in top producer Thailand.

The Osaka Exchange (OSE) rubber contract for February delivery closed up 1.7 yen or 0.45%, at 375.6 yen ($2.59) per kg. The contract hit an intraday high of 380.3 yen earlier in the session, its highest since Aug. 8, 2011.

It gained 7.59% this week, its best since March, and 19.2% for the month its biggest month-on-month gain since October 2020. However, the January rubber contract on the Shanghai Futures Exchange (SHFE) fell 80 yuan or 0.48%, to finish at 16,640 yuan ($2,346.70) per metric ton.

Though the severity of rains and floods in Thailand has eased, continuing seasonal rains are expected to disrupt harvesting, and thus concerns over low availability in the usual season of peak supply are expected to continue holding prices firm, said Jom Jacob, chief analyst at Indian analysis firm What Next Rubber.

However, a drop in butadiene rubber prices, and potential caution from speculative traders awaiting key US inflation data and Chinese manufacturing PMI data, can weigh on natural rubber futures, Jacob added. SHFE rubber futures probably had some profit-taking before the weekend and technical trading, said Farah Miller, CEO of independent rubber-focused data firm Helixtap Technologies.

Thailand’s meteorological agency forecast less rains as the southwest monsoon prevailing over the country is weakening, but warned of possible flash floods from Sept. 1-5. The most active October butadiene rubber contract on the SHFE fell 130 yuan, or 0.85%, to 15,120 yuan ($2,132.34) per metric ton.

The front-month rubber contract on Singapore Exchange’s SICOM platform for September delivery last traded at 179.5 US cents per kg, down 0.8%.

Comments

Comments are closed.