28-05-2024
Japanese rubber futures rose on today as extreme weather conditions in leading producing regions led to tight supply, while favourable domestic data helped lift investor confidence.
The Osaka Exchange November delivery was up 0.48%, and SHFE September delivery as up 0.9% today
The tapping of rubber trees in Thailand and China has been affected by extreme weather conditions … but it is worth noting that yields have begun to increase at rubber-producing regions in northeastern Thailand and Vietnam,” China-based Brilliant Futures said in a note.
Oil prices were steady as investors awaited inflation data to assess future U.S. monetary policy and the production policy decisions from the OPEC+ meeting on June 2.
The cost of cup-lump is increasing in major Asian producing nations, causing farmers to consider switching from latex and sheet rubber. This shift may result in a shortage and drive up RSS prices.
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