SINGAPORE: Japanese rubber futures edged up on Friday, but ended the week lower and snapped a two-week winning streak on declining tyre demand in China. The Osaka Exchange (OSE) rubber contract for January delivery was up 0.3 yen, or 0.09%, at 316.8 yen ($2.13) per kg.
Still, the contract ended the week down 0.85%. The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery dipped 150 yuan, or 0.95%, to 15,625 yuan ($2,176.06) per metric ton.
The most active October butadiene rubber contract on the SHFE fell 130 yuan, or 1.1%, to 11,660 yuan per metric ton. Tyre demand has started to decline and inventories are high, said Chinese broker Everbright Futures. The European Union and the US are working on a deal that would see tariffs on car exports slashed to 15% from the current 27.5%.own 0.5%.
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