* Japanese rubber futures inched higher on Monday for a
second
straight session, tracking gains in the Shanghai market and
buoyed by stronger domestic equities, while a rally in crude oil
prices also lent support.
* The Osaka Exchange's rubber contract for July delivery finished 0.4 yen, or 0.2%, higher at 222.7 yen ($1.66)
per kg.
* The rubber contract on the Shanghai futures exchange for
May
delivery rose 25 yuan to finish at 12,565 yuan ($1,832)
per tonne.
* Japan's benchmark Nikkei share average closed up
0.07%.
* "The recent rally in futures prices could mean that a
technical
support level has been reached, but market players might want to
wait for stronger indicators to start buying up again," said a
Singapore-based trader.
* Oil prices rose amid optimism over China's demand
recovery,
concerns that underinvestment will crimp future oil supply and
as major producers keep output limits in place.
* The natural rubber market benefits from stronger oil
prices that
spur manufacturers to shift away from synthetic rubber, which is
derived from oil.
* Rubber inventories in warehouses monitored by the Shanghai
Futures Exchange rose 1.0% from a week earlier, the exchange
said on Friday.
* Rubber markets are waiting for signs of a demand pick-up
in top
buyer China after the country lifted its strict COVID curbs at
the end of 2022.
* Asian shares edged up as a U.S. holiday made for slow
trading
ahead of minutes of the latest Federal Reserve meeting and a
reading on core inflation that could add to the risk of interest
rates heading higher for longer.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for March delivery last traded at 139.4 U.S.
cents per kg, up 1.2%.
($1 = 134.0800 yen)
($1 = 6.8594 yuan)
(Reporting by Matthew Chye; Editing by Subhranshu Sahu)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
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