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RUBBER-Japan futures fall on China's rising COVID cases, geopolitical fears

Reuters · 11/15/2022 23:06
RUBBER-Japan futures fall on China's rising COVID cases, geopolitical fears

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  • Japanese rubber futures fell on Wednesday, snapping a three-session rally, as rising COVID-19 cases in top buyer China boosted fears of slower demand, while geopolitical risks also weighed on sentiment.

  • The Osaka Exchange rubber contract for April delivery JRUc6, 0#2JRU: was down 2.2 yen, or 1.0%, at 217.9 yen ($1.6) per kg as of 0347 GMT.

  • The rubber contract on the Shanghai futures exchange for January delivery SNRv1 was down 95 yuan, or 0.8%, at 12,565 yuan ($1,775) per tonne.

  • China on Tuesday reported 17,772 local COVID-19 infections for Nov.14, up from 16,072 a day earlier and the most since April, fuelling speculation that localised lockdowns could widen.

  • NATO member Poland said that a Russian-made rocket killed two people in eastern Poland Ukraine. Russia denied it was responsible.

  • The missile was probably fired from Russia, U.S. President Joe Biden said after an emergency meeting of NATO leaders called to discuss the strike.

  • The front-month rubber contract on Singapore Exchange's SICOM platform for December delivery STFc1 last traded at 129.1 U.S. cents per kg, down 1.4%.

($1 = 7.0770 Chinese yuan renminbi)

($1 = 140.0500 yen)


(Reporting by Yuka Obayashi)

((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))