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SINGAPORE: Japanese rubber futures gained on Tuesday as traders weighed a firmer demand outlook against prospects of easing supply pressures, while a weaker yen also lent support to prices.

The March Osaka Exchange (OSE) rubber contract closed up 2.1 yen, or 0.54%, at 391.1 yen ($2.59) per kg. The January rubber contract on the Shanghai Futures Exchange (SHFE) rose 315 yuan, or 1.74%, to finish at 18,380 yuan ($2,580.95) per metric ton.

While rubber tapping disrupted by Typhoon Yagi has resumed, downstream tyre factory operations are stable and improving, with capacity utilisation up significantly after the Golden Week holidays, Chinese financial site Guohai Liangshi Futures said in a note.

With the softening of overseas raw material prices and the negative impact of a delay in a key EU deforestation law, supply-side support has subsided. Rubber prices are now fluctuating while waiting for new drivers, Guohai Liangshi said.

The yen touched a near three-month low of 151.10 per dollar. The yield on the benchmark US 10-year Treasury note rose to its highest since July 26 in Asian hours, weighing on the Japanese currency which is extremely sensitive to moves in Treasuries.

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