Japanese rubber futures rose on Friday for a third straight day after China, the world’s biggest consumer of the material for tyres, seals and other products, reported a jump in economic growth as it recovers from the coronavirus crisis.
Osaka Exchange’s rubber contract for September delivery finished 0.8 yen, or 0.4%, higher at 237.7 yen per kg.
China’s economic recovery quickened sharply in the first quarter to record growth of 18.3% from last year’s deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller companies.
The rubber contract on the Shanghai futures exchange for September delivery rose 0.8% to finish at 13,775 yuan a tonne.
