TOKYO, Aug 4 (Reuters) – Benchmark TOCOM rubber futures recovered from three-week lows on Thursday on the back of firm crude prices, but the gains were limited by weak Shanghai futures.
The Tokyo Commodity Exchange rubber contract for January delivery JRUc6 0#2JRU: rose 0.4 yen to 153.4 yen ($1.52) per kg by 0150 GMT, after settling down 1.1 yen on Wednesday.
The contract hit a low of 152.2 yen in overnight trading, the lowest since July 12.
The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 was down 85 yuan at 12,670 yuan ($1,910.38) per tonne.
The U.S. dollar was quoted around 101.09 yen JPY= , steady from Wednesday afternoon. FRX/
Japan’s benchmark Nikkei stock average .N225 was down 0.1 percent. MKTS/GLOB
Oil prices jumped more than 3 percent on Wednesday, with U.S.crude futures returning to above $40 a barrel, after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles in the No. 1 oil consumer. O/R
The following data is expected on Thursday: (Time in GMT)
1100 Bank of England announces interest rate decision and releases inflation report
1230 U.S. Weekly jobless claims
1400 U.S. Factory orders Jun
($1 = 100.9300 yen)
($1 = 6.6322 Chinese yuan renminbi)
(Reporting by Osamu Tsukimori; Editing by Richard Pullin)