Japanese rubber futures higher on supply concerns

SINGAPORE: Japanese rubber futures rose on Thursday, buoyed by supply concerns from heavy rains in top producer Thailand.

The Osaka Exchange (OSE) rubber contract for May delivery was up 2.8 yen, or 0.84 percent, at 337 yen(USD2.16) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery rose 170 yuan, or 1.13 percent, to 15,280 yuan (USD2,158.07) per metric ton. The most-active January butadiene rubber contract on the SHFE gained 120 yuan, or 1.17 percent, to 10,400 yuan per ton.

Top rubber producer Thailand’s meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows, in its weather forecast from November 26 to December 2.

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