SINGAPORE: Japanese rubber futures ended little changed on Monday, but wrapped up June with gains supported by persistent wet weather in major producing regions, fuelling supply concerns.
The Osaka Exchange (OSE) rubber contract for December delivery ended daytime trade down 0.1 yen, or 0.03%, at 309.6 yen ($2.15) per kg. The contract has climbed 4.95% this month.
The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery dipped 60 yuan, or 0.43%, to 13,985 yuan ($1,952.34) per metric ton. The most active August butadiene rubber contract on the SHFE gained 40 yuan, or 0.36%, at 11,250 yuan ($1,570.53) per metric ton.
The market was underpinned by heavy rain in southwestern China, northern Thailand, Vietnam, and the Philippines, which sparked supply concerns, the Japan Exchange Group said in a report on Monday. Top rubber producer Thailand’s meteorological agency warned of heavy rains and accumulations from June 30 - July 6.
Japan’s Nikkei soared to an over 11-month high as a strong rally in US equities buoyed investor sentiment.
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