Key Tokyo rubber futures inched lower on Friday, as a firmer yen and weakness in the Shanghai rubber market dampened sentiment, but a rise in oil prices kept losses limited. The key Tokyo Commodity Exchange rubber contract for October delivery edged down 3.3 yen, or 0.9 percent, to settle at 378.1 yen per kg. On the week, the contract gained 0.8 percent.
The most active Shanghai rubber contract for September delivery closed down 95 yuan, or 0.3 percent, at 31,485 yuan ($4,840.189) per tonne. Volume fell to 1.13 million lots from 1,317,480 lots on Thursday. Traders said the sluggishness in Shanghai rubber futures may reflect concerns about demand from China, the world's biggest consumer of rubber.
Oil prices recovered on Friday as traders seized the previous session's dip as a chance to snap up cargoes amid expectations that concerns over supply disruption from the Middle East would continue to support the market. The euro held steady against the dollar on Friday, clinging to much of the gains it made the previous day after weak US data underscored expectations that the Federal Reserve will keep interest rates near zero for a while.
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