Key Tokyo rubber futures nudged up on Friday, recouping earlier losses as the yen retreated against the dollar and oil prices recovered. The key Tokyo Commodity Exchange rubber contract for January delivery rose 1.5 yen or 0.5 percent to settle at 282.2 yen per kg for a weekly rise of about 3.5 percent.
The benchmark contract traded in a narrow 6 yen range, staying away from a high of 287.0 yen hit on Thursday, the highest for any benchmark since June 28. Oil prices were steady on Friday above $82 before a report due later in the day which was expected to show US employment declined for a second straight month in July, as investors watch for clues to the pace of economic and energy demand recovery.
Asian physical rubber prices were steady on Friday despite increasing supply as prices were supported by firm TOCOM prices, dealers said. Japan's crude rubber inventories snapped a falling trend lasting more than four months and inched up from a record low as of July 31, Rubber Trade Association of Japan data showed on Friday.
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