SHANGHAI: Japanese rubber futures recouped early losses to close little changed on Thursday, as support from rising crude oil prices and a firmer Shanghai market countered pressure from weaker Tokyo equities.
The Osaka Exchange (OSE) rubber contract for March delivery was little changed at 457.7 yen (USD2.89) per kg.
The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery rose 435 yuan, or 2.21 percent, to 20,145 yuan (USD3,005.86) per metric ton. It surged to its highest level since February 21, 2017, earlier in the day, as the market reopened after China’s week-long National Day holiday.
The most-active November butadiene rubber contract on the SHFE surged 720 yuan, or 4.54percent, to 16,590 yuan per ton. Japanese shares fell more than 1percent in their second straight session of losses, as investors paused after recent rallies, wary of the US rate outlook, higher yields and geopolitical tensions. Weaker risk sentiment tends to weigh on rubber futures.
Oil prices rose on persistent worries about supply from the key Middle East producing region amid an increase in attacks on shipping in the Gulf and the Strait of Hormuz, while the US cut output as a hurricane menaced offshore production.
Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. Indonesia’s natural rubber exports totalled 864,000 tons in the first eight months of 2026, down 21 percent year-on-year, data from rubber information provider Qinrex showed.
The front-month rubber contract on Singapore Exchange’s SICOM platform for January delivery was last flat at 256.1 US cents per kg, as of 0700 GMT.