* Japanese rubber futures finished flat on Tuesday,
steadying
after volatile moves over the past few days, with oil prices and
supply concerns in focus.
* Osaka Exchange's rubber contract for August delivery closed unchanged at 225.0 yen ($1.66) per kg. The
contract rose on Monday after dropping on Friday.
* The rubber contract on the Shanghai futures exchange for
May
delivery fell 20 yuan to finish at 12,445 yuan
($1,793.54) per tonne.
* "Tocom rubber is recovering mainly due to oil as well as
the low
supply in RSS3," said a Singapore-based trader, adding that
supply of the grade had dropped by 10% year-on-year in the first
two months of 2023.
* "We do see that rubber has more space to go up."
* Japan's benchmark Nikkei average closed up 0.25%.
* Oil prices were little changed on Tuesday, after rising
for the
past five sessions, as concerns about limited spare capacity in
the market and uncertainty over Russian supplies offset mixed
oil data from top crude importer China.
* The natural rubber market is helped by stronger oil prices
as
manufacturers are incentivised to shift away from synthetic
rubber that is derived from oil, driving natural rubber prices
higher.
* The Japanese yen was mostly flat at 135.93 per
dollar
ahead of the final policy meeting for Bank of Japan Governor
Haruhiko Kuroda on Thursday and Friday, when the central bank is
set to stick to its ultra loose monetary path.
* Asian stocks pulled back on Tuesday as weak trade data
weighed
on Chinese stocks while investors awaited Federal Reserve Chair
Jerome Powell's testimony later in the day for clues on the
central bank's next move on rates.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 138.8 U.S.
cents per kg, down 0.4%.
($1 = 135.9000 yen)
($1 = 6.9388 yuan)
(Reporting by Carman Chew; Editing by Muralikumar Anantharaman)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
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