Latest news with #OsakaExchange
Time of India
2 days ago
- Automotive
- Time of India
Japan futures extend declines as firm supply, China auto price war weighs
Japanese rubber futures fell for a sixth straight session on Wednesday as seasonal harvesting boosted supply prospects, while concerns over an intensifying price war in China 's automobile market weighed on sentiment for the tyre-making material. The Osaka Exchange ( OSE ) rubber contract for November delivery was down 0.9 yen, or 0.31%, at 286.1 yen ($1.99) per kg as of 0209 GMT. The natural rubber-producing areas in China and Vietnam have begun harvesting, and the output of raw materials has increased significantly, said Chinese financial information site Tonghuashun Information . Rubber crops usually undergo a season of low production from February to May, followed by a peak harvesting period that lasts until September. Meanwhile, leading automakers have launched a price war that has further suppressed tyre demand, added Tonghuashun. In China, an intensifying auto industry price war has stoked fears of a long-anticipated shake-out in the world's largest car market. Moreover, alarm over China's stranglehold on critical minerals grew on Tuesday as global automakers complained that restrictions by China on exports of rare earth alloys, mixtures, and magnets could cause production delays and outages. On the trade front, the White House signalled that President Donald Trump and Chinese President Xi Jinping might engage in talks later this week, after the two sides accused each other of violating the terms of an agreement reached last month to roll back some tariffs. The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery last traded at 158.6 U.S. cents per kg, down 0.1%.
Business Recorder
2 days ago
- Business
- Business Recorder
Japanese rubber futures rebound on Thai wet weather, softer yen
SINGAPORE: Japanese rubber futures pared earlier losses on Wednesday on a weaker yen, while wet weather in top producer Thailand dampened seasonal harvesting supply prospects. The Osaka Exchange (OSE) rubber contract for November delivery closed up 3.9 yen, or 1.36%, at 290.9 yen ($2.02) per kg. Due to increased rainfall in domestic and foreign production areas, the output of raw materials has been affected, Chinese commodities data provider Longzhong Information said in a note. Top producer Thailand's meteorological agency warned of heavy rains and accumulations could cause flash floods from June 7-10. Still, natural rubber-producing areas in China and Vietnam have begun seasonal harvesting, said Chinese financial information site Tonghuashun Information. Rubber crops usually undergo a season of low production from February to May, followed by a peak harvesting period that lasts until September. In currency markets, the dollar was up 0.2% at 144.23 yen. A weaker currency makes yen-denominated assets more affordable to overseas buyers. Meanwhile, leading automakers have launched a price war that has further suppressed tyre demand, added Tonghuashun. In China, an intensifying auto industry price war has stoked fears of a long-anticipated shake-out in the world's largest car market.
Business Recorder
3 days ago
- Automotive
- Business Recorder
Japanese rubber futures hit one-year low on supply outlook
SINGAPORE: Japanese rubber futures slid on Tuesday to their lowest in more than a year, pressured by weak demand for the tyre-making material in top consumer China and expectations of increased supply due to seasonal tapping. The Osaka Exchange (OSE) rubber contract for November delivery ended daytime trade 3.9 yen lower, or 1.34%, at 287 yen ($2.01) per kg. Earlier in the session, prices hit 280 yen, their lowest point since February 13, 2024. The slide has been exacerbated by weaker-than-usual demand from tyre manufacturers, coupled with expectations that seasonal raw material output in June will meet or exceed forecasts, a Singapore-based trader. 'As a result, the market anticipates a supply surplus, prompting futures traders to sell in advance,' the trader added. Rubber crops usually undergo a season of low production from February to May, before a peak harvesting period that lasts until September. Meanwhile, the price war in automotive industries has squeezed profits, while downstream demand from semi-steel tyre enterprises has weakened, said broker Everbright Futures. In China, an intensifying auto industry price war in China has stoked fears of a long-anticipated shake-out in the world's largest car market. Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.
Business Recorder
4 days ago
- Business
- Business Recorder
Japan rubber futures hit one-year lows on supply outlook, weak China demand
SINGAPORE: Japanese rubber futures slid on Tuesday to their lowest levels in more than a year, pressured by weak demand for the tyre-making material in top consumer China and expectations of increased supply due to seasonal tapping. The Osaka Exchange (OSE) rubber contract for November delivery was down 5.3 yen, or 1.82%, at 285.6 yen ($1.99) per kg, as of 0207 GMT. Earlier in the session, prices hit 280 yen, their lowest point since February 13, 2024. The slide has been exacerbated by weaker-than-usual demand from tyre manufacturers, coupled with expectations that seasonal raw material output in June will meet or exceed forecasts, said a Singapore-based trader. 'As a result, the market anticipates a supply surplus, prompting futures traders to sell in advance,' the trader added. On the supply front, the tapping of domestic and foreign production areas is progressing smoothly, and the supply of raw materials will increase significantly in June, said broker Everbright Futures. Rubber crops usually undergo a season of low production from February to May, before a peak harvesting period that lasts until September. Meanwhile, the price war in automotive industries has squeezed profits, while downstream demand from semi-steel tyre enterprises has weakened, added Everbright. In China, an intensifying auto industry price war in China has stoked fears of a long-anticipated shake-out in the world's largest car market. Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres. Broadly, China's factory activity in May shrank for the first time in eight months, a private-sector survey showed on Tuesday, indicating U.S. tariffs are now starting to directly hurt the manufacturing superpower. The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery last traded at 158.7 U.S. cents per kg, up 0.8%.
Business Recorder
4 days ago
- Business
- Business Recorder
Japanese rubber futures lower on firm seasonal supply outlook
SINGAPORE: Japanese rubber futures weakened for a fourth straight session on Monday, hitting their lowest in more than a month, as seasonal harvesting firmed supply prospects. The Osaka Exchange (OSE) rubber contract for November delivery ended daytime trade 4.1 yen lower, or 1.39%, to 290.9 yen ($2.03) per kg. Earlier in the session, prices fell to 290.2 yen, the lowest since April 30. Global rubber futures ended last week sharply lower with the return of full production from the northern hemisphere following the end of the wintering season, Japan Exchange Group said in a report on Monday. Rubber crops usually undergo a season of low production from February to May before a peak harvesting period that lasts until September. Still, production in Yunnan has been reduced in the short term due to rainfall, though it is expected to return to normal in June, Chinese financial information site Tonghuashun Information said. Heavy rainfall has triggered flash floods and mudslides, damaged roads and destroyed buildings and bridges, wreaking havoc in China's southwestern Yunnan province over the long holiday weekend. On Friday, US President Donald Trump accused China of violating a bilateral deal to roll back tariffs and announced a doubling of worldwide steel and aluminium tariffs to 50%, once again rattling international trade. Meanwhile, global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China, which could force the closure of car factories within weeks and influence the intensity of automobile manufacturing, which involves using rubber-made tyres. The front-month rubber contract on the Singapore Exchange's SICOM platform for June delivery last traded at 157.1 US cents per kg, down 2.2%. China's financial markets are closed on Monday for a public holiday. Trading will resume on Tuesday, June 3.
