July 30, 2019 / 12:55 AM / 7 months ago

RUBBER-Tokyo futures climb on Shanghai recovery

TOKYO, July 30 (Reuters) -

* The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery climbed 1.0 yen, or 0.6%, to 182.0 yen ($1.67) per kg by 0045 GMT, helped by a recovery in Shanghai futures.

* Key Shanghai futures ended overnight trading up 0.4% at 10,700 yuan ($1,552) per tonne

* U.S. tire maker Cooper Tire & Rubber Co on Monday reported lower-than-expected Q2 profit and sales, adding that results are expected to be affected by weakness in China new vehicle and Europe replacement tire markets.

* Oil prices rose on Monday as the prospect of an expected interest rate cut by the U.S. Federal Reserve overshadowed pessimism over U.S.-China trade talks and worries about slower global economic growth.

* U.S. central bankers will begin their two-day meeting later in the day and are expected to lower borrowing costs for the first time since the depths of the financial crisis more than a decade ago.

* The U.S. dollar was quoted around 108.84 yen, compared with around 108.60 yen on Monday afternoon

* Japan's benchmark Nikkei stock average opened up 0.3 percent on Tuesday.

* TOCOM's technically specified rubber (TSR) 20 futures contract for January delivery was stuck at 153.3 yen per kg, remaining at the same level for more than one week.

* The front-month rubber contract on Singapore's SICOM exchange for August delivery settled at 138.3 U.S. cents per kg on Monday, down 1.5% from the previous session, hitting the lowest since mid-February. ($1 = 6.8927 Chinese yuan renminbi) ($1 = 108.8500 yen) (Reporting by Yuka Obayashi; editing by Richard Pullin)

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