Latest news with #OsakaExchange
Business Recorder
3 days ago
- Business
- Business Recorder
Japan rubber futures dip on China auto price war, firmer yen
Japanese rubber futures fell on Tuesday, pressured by a stronger yen and prolonged price war in China's automobile sector, which continues to weigh on rubber prices. The Osaka Exchange (OSE) rubber contract for January delivery ended daytime trade down 4.1 yen, or 1.26%, at 321.9 yen ($2.17) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery lost 230 yuan, or 1.51%, to 15,010 yuan ($2,091.61) per metric ton. The most active September butadiene rubber contract on the SHFE fell 290 yuan, or 2.39%, to 11,835 yuan($1,649.18) per metric ton. A Reuters analysis of consumer complaints found widespread inflation of sales figures by Chinese automakers and dealers, a tactic used to boost car sales numbers amid a prolonged price war in the world's largest auto market. This approach masks the true level of inventory held by automakers, potentially causing them to overestimate monthly demand and schedule higher production. Japanese rubber slips on profit-taking Lower automobile prices, driven by fierce competition, exert a downward pressure on rubber tyre prices. Meanwhile, the yen edged up to 148.22 per dollar. A stronger currency makes yen-denominated assets less affordable to overseas buyers. Still, top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations on July 29. Elsewhere, top producer Thailand and Cambodia agreed to a ceasefire on Monday after five days of intense fighting. However, Thailand later accused Cambodian troops of multiple attacks in violation of the agreement. front-month rubber contract on Singapore Exchange's SICOM platform for August delivery last traded at 168.5 U.S. cents per kg, down 1.1%.
Business Recorder
3 days ago
- Business
- Business Recorder
Japanese rubber slips on profit-taking
SINGAPORE: Japanese rubber futures fell on Monday, pressured by profit-taking after recent gains, while softer demand also weighed on market sentiment. The Osaka Exchange (OSE) rubber contract for January delivery ended daytime trade down 7.6 yen, or 2.28%, at 326 yen ($2.20) per kg. *The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery fell 390 yuan, or 2.52%, to 15,065 yuan ($2,101.67) per metric ton. The most-active September butadiene rubber contract on the SHFE lost 365 yuan, or 2.96%, to 11,955 yuan ($1,667.81) per ton. Vietnam's tyre sector continues to struggle due to higher fixed costs, excess inventories in China, and sluggish demand, Japan Exchange Group said in a report on Monday. Following a sharp rise in rubber prices over the past two weeks, profit-taking by funds has emerged, leading to a short-term pullback, a Singapore-based trader said. The trader added that such corrections are healthy, emphasising that an overly rapid rise is unsustainable in the long run. Still, rainfall disturbances in domestic and foreign production areas persist, restricting rubber tapping and providing support to prices, said Chinese commodities data provider Longzhong Information. Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations from July 28-29. Elsewhere, the United States and European Union agreed to 15% tariffs on automobiles. Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres. Meanwhile, oil prices rose as the US-EU agreement lifted trade optimism. Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery last traded at 170 US cents per kg, down 3.3%.
Business Recorder
7 days ago
- Automotive
- Business Recorder
Japanese rubber futures firm on weather risks
SINGAPORE: Japanese rubber futures pared earlier losses, supported by concerns over adverse weather impacting Southeast Asian plantations and strengthening demand in China. The Osaka Exchange rubber contract for December delivery ended daytime trade up 1.2 yen, or 0.36%, at 330.7 yen ($2.26) per kg. The rubber contract on the Shanghai Futures Exchange for September delivery rose 230 yuan, or 1.53%, to 15,245 yuan($2,131.63) per metric ton. The most active August butadiene rubber contract on the SHFE gained 285 yuan, or 2.38%, to 12,285 yuan ($1,717.75) per metric ton. Adverse weather and the condition of rubber plantations in Southeast Asia could lead to lower rubber output, even as demand prospects in China are strengthening, said Chinese rubber sales portal Natural Rubber Network. Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows on July 24. Meanwhile, new car sales in Europe dropped over 5% in June, as European auto makers faced competition from China, 25% import tariffs imposed by the US, and local regulations pushing for a faster shift to electric vehicles. Despite the impact of tariffs, UK vehicle production is expected to reverse its decline the next year, buoyed by a new trade deal with the US that reduced taxes on British car exports. Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres. Elsewhere, oil prices rose, bolstered by positive sentiment over US trade negotiations. Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery last traded at 173.7 US cents per kg, up 2.5%.
Business Recorder
18-07-2025
- Automotive
- Business Recorder
Japanese rubber futures rise on stronger oil prices
SINGAPORE: Japanese rubber futures rose for a second session on Thursday, tracking oil gains and supported by China's move to regulate electric vehicle sector competition, which could ease downward price pressure on the commodity. The Osaka Exchange (OSE) rubber contract for December delivery ended daytime trade up 4.7 yen, or 1.47%, at 325.2 yen ($2.19) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery rose 260 yuan, or 1.8%, to 14,665 yuan ($2,042.28) per metric ton. The most active August butadiene rubber contract on the SHFE gained 100 yuan, or 0.87%, to 11,570 yuan ($1,611.26) per ton. China's cabinet pledged on Wednesday to regulate 'irrational' competition in the domestic EV sector through stricter cost and price monitoring. Lower automobile prices, driven by fierce competition, exert a downward pressure on rubber tyre prices. The China Chamber of Commerce emphasised fair European Union market access for Chinese automakers after meetings between a CCCEU auto working group and EU trade officials. China and the EU are currently looking to replace existing levies on Chinese-made EVs with minimum prices. Elsewhere, the yen slid 0.4% to 148.44 per dollar. A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers. Oil prices rose on stronger-than-expected economic data from the world's top oil consumers. Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. Japan's Nikkei climbed 0.2. Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows from July 20-22. The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery last traded at 168.5 US cents per kg, up 0.7%.
Business Recorder
16-07-2025
- Business
- Business Recorder
Japanese rubber futures rise on Thai flood concerns
SINGAPORE: Japanese rubber futures rebounded on Wednesday, fuelled by supply shortage fears after top producer Thailand warned of possible flash floods, although sluggish global demand capped gains. The Osaka Exchange (OSE) rubber contract for December delivery ended daytime trade up 3.5 yen, or 1.1%, at 320.5 yen ($2.16) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery climbed 80 yuan, or 0.55%, to 14,500 yuan ($2,020.31) per metric ton. The most-active August butadiene rubber contract on the SHFE fell 65 yuan, or 0.56%, to 11,525 yuan ($1,605.80) per ton. Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows from July 19-21. The market is currently paying attention to the Thai flood warning, said Chinese broker Hexun Futures. The greenback strengthened to 148.91 yen per dollar after reaching a 3-1/2-month peak earlier in the session. A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers. Oil prices rose on expectations of steady demand in the US and China. Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. Amidst the peak production season across rubber-producing countries, as well as damp international demand, there could be some cap to the upside, said Farah Miller, founder of independent rubber-focused firm Helixtap Technologies. Rubber crops usually undergo a season of low production from February to May, before a peak harvesting period that lasts until September. The front-month rubber contract on Singapore Exchange's SICOM platform for August delivery last traded at 167.3 US cents per kg, up 0.7%.
