Japanese rubber climbs

SINGAPORE: Japanese rubber futures rose on Thursday, supported by stronger crude prices, although trading remained thin due to the week-long holiday in top buyer China.

The natural rubber market benefits from stronger oil prices that spur manufacturers to shift away from synthetic rubber, which is derived from oil, thus driving up prices of natural rubber.

The Osaka Exchange rubber contract for March delivery was up 1.6 yen, or 0.7%, at 231.5 yen ($1.60) per kg, as of 0210 GMT. Japan’s benchmark Nikkei share average opened up 0.06%.

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Reference : Business Recorder