AIRLINK 177.20 Decreased By ▼ -0.36 (-0.2%)
BOP 11.22 Increased By ▲ 0.17 (1.54%)
CNERGY 8.29 Increased By ▲ 0.12 (1.47%)
FCCL 48.15 Increased By ▲ 0.83 (1.75%)
FFL 16.37 Increased By ▲ 0.25 (1.55%)
FLYNG 27.25 Decreased By ▼ -0.10 (-0.37%)
HUBC 145.62 Decreased By ▼ -1.29 (-0.88%)
HUMNL 13.65 Increased By ▲ 0.14 (1.04%)
KEL 4.47 Decreased By ▼ -0.03 (-0.67%)
KOSM 5.95 Increased By ▲ 0.04 (0.68%)
MLCF 62.80 Increased By ▲ 0.78 (1.26%)
OGDC 230.90 Decreased By ▼ -3.78 (-1.61%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 45.75 Decreased By ▼ -0.66 (-1.42%)
PIAHCLA 18.05 Decreased By ▼ -0.07 (-0.39%)
PIBTL 10.68 Increased By ▲ 0.11 (1.04%)
POWER 12.07 Increased By ▲ 0.08 (0.67%)
PPL 189.85 Decreased By ▼ -1.95 (-1.02%)
PRL 37.65 Increased By ▲ 0.33 (0.88%)
PTC 23.14 Decreased By ▼ -0.06 (-0.26%)
SEARL 101.10 Increased By ▲ 0.21 (0.21%)
SSGC 39.15 Decreased By ▼ -0.56 (-1.41%)
SYM 15.00 Decreased By ▼ -0.03 (-0.2%)
TELE 7.90 Increased By ▲ 0.06 (0.77%)
TPLP 11.15 Increased By ▲ 0.04 (0.36%)
TRG 66.30 Decreased By ▼ -0.99 (-1.47%)
WAVESAPP 11.20 Decreased By ▼ -0.15 (-1.32%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,961 Increased By 154.1 (1.2%)
BR30 39,490 Decreased By -213.7 (-0.54%)
KSE100 119,810 Increased By 871.8 (0.73%)
KSE30 37,112 Increased By 355.8 (0.97%)

SINGAPORE: Japanese rubber futures advanced for the third straight session to touch a one-week high on Tuesday, buoyed by wet weather in some producing regions in China and Thailand, while better Chinese economic data lent further support to the market.

The Osaka Exchange (OSE) rubber contract for February delivery closed up 3.9 yen, or 1.09%, at 360.5 yen ($2.52) per kg.

The contract hit an intraday high of 363.9 yen, its strongest level since Sept. 3.

The January rubber contract on the Shanghai Futures Exchange (SHFE) rose 175 yuan, or 1.05%, to finish at 16,780 yuan ($2,357.24) per metric ton.

Natural rubber prices are gathering pace largely driven by supply concerns during the usual season of peak production, as speculative funds are betting on supply disruptions caused by Super Typhoon Yagi and the abnormally heavy rains that followed in China and parts of Thailand, said Jom Jacob, chief analyst at Indian analysis firm What Next Rubber.

Top producer Thailand’s meteorological agency warned of heavy rains that may cause flash floods from Sept. 13-15.

Chinese trade data showing an unexpected acceleration in exports brought optimism over the Chinese economy and its demand prospects, Jacob said. China’s exports grew at their fastest pace in nearly 1-1/2 years in August, while imports missed forecasts amid weak domestic demand.

Comments

Comments are closed.