Japanese rubber eases on softer oil prices

SHANGHAI: Japanese rubber futures eased to their lowest level in nearly a month on Monday, pressured by a decline in oil prices, although losses were capped as weather-related disruptions affected tapping in key rubber-producing regions.

The Osaka Exchange (OSE) rubber contract for March delivery was down 2.4 yen, or 0.54 percent, at 445.5 yen (USD2.84) per kg. Earlier in the session, the contract touched its lowest point since September 30 The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 70 yuan, or 0.36 percent, to 19,545 yuan (USD2,930.20) per metric ton.

The most active December butadiene rubber contract on the SHFE rose 450 yuan, or 2.82 percent, to 16,380 yuan per metric ton. Oil prices fell after surging to near six-month highs last week on hopes of easing hostilities between the US and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary.