TOKYO: Japanese rubber futures eased on Monday on lingering concerns that the fast-spreading Omicron coronavirus variant and tougher restrictions by some countries including top buyer China to curb the pandemic would hurt global economy.
Osaka Exchange’s rubber contract for June delivery finished 1.2 yen, or 0.5%, lower at 229.0 yen ($2.0) per kg.
China’s symptomatic coronavirus cases crept up again, after it reported the highest daily rise in local infections in 21 months over the weekend, with most new infections reported in the northwestern city of Xian as it entered a fifth day of a lockdown.
US airlines cancelled more than 1,300 flights on Sunday as COVID-19 thinned out the number of available crews, while several cruise ships had to cancel stops after outbreaks on board, upending the plans of thousands of Christmas travellers.
The rubber contract on the Shanghai futures exchange for May delivery fell 5 yuan to finish at 14,455 yuan ($2,269) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 167.8 US cents per kg, down 0.7%.
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