RUBBER-Japan futures slip on Shanghai losses, uncertainty over US-Iran truce

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  • Japanese rubber futures edged lower on Tuesday, tracking losses in the Shanghai market and weighed down by concerns over scant details in a preliminary agreement ending the U.S.-Iran war.

  • The Osaka Exchange (OSE) rubber contract for November delivery JRUc6, 0#2JRU: was down 0.1 yen at 435.8 yen ($2.7) per kg, as of 0154 GMT, reversing the previous day's gains.

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 dropped 80 yuan, or 0.45%, to 17,680 yuan ($2,615) per metric ton.

  • U.S. President Donald Trump said on Monday a preliminary agreement to end the war in the Gulf has been signed by the U.S. and Iran, though details have yet to be made public and both countries said a permanent truce is yet to be negotiated.

  • Oil prices rebounded on Tuesday on concerns about the lack of details in the preliminary agreement and possible delays in resuming flows through the Strait of Hormuz. O/R

  • Natural rubber often tracks oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

  • Japan's Nikkei .N225 edged back from a record high on Tuesday as traders awaited an expected Bank of Japan interest rate hike later in the day.

  • The yen JPY=EBS traded at 160.15 per U.S. dollar, compared with 160.05 late Monday in Asia. USD/

  • The front-month rubber contract on Singapore Exchange's SICOM platform for July delivery STFc1 last traded at 226.9 U.S. cents per kg, down 0.5%.


    ($1 = 6.7600 Chinese yuan)

    ($1 = 160.1400 yen)