SINGAPORE: Japanese rubber futures rose on Tuesday after returning from a long holiday, supported by adverse weather conditions in key rubber-producing countries and higher oil prices.
The Osaka Exchange (OSE) rubber contract for October delivery closed up 5.2 yen, or 1.72%, at 307.9 yen ($1.99) per kg, the highest close since May 1.
The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery rose 155 yuan to finish at 14,285 yuan ($1,979.85) per metric ton.
Top rubber producer Thailand’s meteorological agency warned of heavy rains and flashing floods in upper Thailand from May 6-12, potentially damaging crops.
China’s meteorological agency issued hot weather alerts for some of Yunnan’s rubber-producing regions, including Xishuangbanna and Pu’er.
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