RUBBER-Japan futures edge higher on Thai wet weather, but tariff concerns cap gains

SINGAPORE, Jan 22 (Reuters) -

• Japanese rubber futures edged higher on Wednesday, as worsening weather in top producer Thailand sparked supply concerns, though the prospect of fresh tariffs from U.S. President Donald Trump capped gains.

• The Osaka Exchange (OSE) rubber contract for June delivery JRUc6, 0#2JRU: ended morning trade 0.6 yen higher, or 0.16%, at 379.1 yen ($2.43) per kg.

• The rubber contract on the Shanghai Futures Exchange (SHFE) for March delivery SNRv1 fell 215 yuan, or 1.22%, to 17,400 yuan ($2,390.41) per metric ton, as of 0233 GMT.

• The most active February butadiene rubber contract on the SHFE SHBRv1 fell 185 yuan, or 1.23%, to 14,840 yuan ($2,038.71) per metric ton.

• "Rubber prices remain supported by rainy weather, which is limiting raw material supplies, coupled with strong physical demand from Chinese dealers," said a Singapore-based trader.

• Thailand's meteorological agency warned on Tuesday of heavy to very heavy rains that may cause flash flooding from Jan. 21 to Jan. 25.

• In top consumer China, downstream enterprises still have demand for stocking, though imported cargoes will arrive at Chinese ports in late January, boosting supply, Chinese consultancy Jinlianchuang said in a note.

• Trump said on Tuesday that his administration was discussing a 10% punitive duty on Chinese imports.

• Financial markets and traders had a slight reprieve as Trump did not immediately impose tariffs, but his latest comments underscore his longstanding desire for broader duties.

• Japan's Nikkei .N225 jumped 1.4% on Wednesday, tracking broad gains on Wall Street, as a flurry of new policies from Trump combined with robust corporate earnings bolstered investor optimism.

• Meanwhile, the yen JPY=EBS edged up to 155.40 per dollar USD/

• A stronger currency makes yen-denominated assets less affordable to overseas buyers. FRX/

• The front-month rubber contract on Singapore Exchange's SICOM platform for February delivery STFc1 last traded at 197.1 U.S. cents per kg, up 0.6%.

($1 = 155.7400 yen)

($1 = 7.2791 Chinese yuan)

(Reporting by Michele Pek; Editing by Sherry Jacob-Phillips)

((michele.pek@thomsonreuters.com;))