testing prefix by kishor/ RUBBER-Japan futures rise on Thai weather woes, but auto sector concerns linger

(Updates market at close) SINGAPORE, June 5 (Reuters) - * Japanese rubber futures inched up on Thursday, supported by deteriorating weather conditions in top producer Thailand, though uncertainty in

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RUBBER-Japan futures rise on Thai weather woes, but auto sector concerns linger
RUBBER-Japan futures rise on Thai weather woes, but auto sector concerns linger | Image: RUBBER-

(Updates market at close)

SINGAPORE, June 5 (Reuters) -

* Japanese rubber futures inched up on Thursday, supported by deteriorating weather conditions in top producer Thailand, though uncertainty in the global automobile sector continued to pressure sentiment for the tyre-making commodity.

* The Osaka Exchange (OSE) rubber contract for November delivery closed up 1.5 yen, or 0.52%, at 292.4 yen ($2.04) per kg.

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* "Rubber prices are rebounding from oversold levels," Natural Rubber Network, a Chinese rubber sales portal, said in a note.

* Japanese rubber futures slipped on Tuesday to their lowest levels in more than one year, and have been rebounding since Wednesday.

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* On the supply front, bullish traders believe that the weather in production areas may weigh on rubber tapping, Natural Rubber Network said.

* Thailand's meteorological agency warned of heavy rains, and that accumulations could cause flash floods from June 7-11.

* In the automobile market, a group representing U.S. auto suppliers on Wednesday called for immediate action to address China's restrictions on exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production.

* Suzuki Motor

had suspended

production of its Swift car due to China's rare earth restrictions, two sources familiar with the matter said.

* Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.

* On the trade front, U.S. President Donald Trump called his Chinese counterpart Xi Jinping tough and "extremely hard to make a deal with" on Wednesday, exposing frictions after the White House raised expectations of a long-awaited phone call between the two leaders this week.

* The front-month rubber contract on Singapore Exchange's SICOM platform for June delivery last traded at 159.5 U.S. cents per kg, down 0.9%. ($1 = 143.2000 yen) (Reporting by Michele Pek; Editing by Sherry Jacob-Phillips)

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