RUBBER-Japan futures set for weekly gains as tariff concerns ease

SINGAPORE, May 2 (Reuters) -

• Japanese rubber futures ticked up for a fourth straight session on Friday, and were set for weekly gains on a weaker yen and signs of progress in Washington's trade talks with Japan and top consumer China.

• The Osaka Exchange (OSE) rubber contract for October delivery JRUc6, 0#2JRU: was up 1.9 yen, or 0.65%, at 295.9 yen ($2.03) per kg as of 0156 GMT.

• The contract has gained 2.28% so far this week.

• The United States has approached China to seek talks over President Donald Trump's 145% tariffs and Beijing's door is open for discussions, China's Commerce Ministry said on Friday, signalling a potential de-escalation in the trade war.

• Over in Japan, the nation's lead trade negotiator emerged from his latest round of talks in Washington, telling reporters he wanted to hold another meeting in mid-May.

• The dollar traded at 145.53 yen JPY=EBS, just off a three-week high reached on Thursday. USD/

• A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/

• Oil prices settled nearly 2% higher on Thursday as Trump threatened secondary sanctions on Iran. O/R

• Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

• Meanwhile, top rubber producer Thailand's meteorological agency warned of heavy rains and flash floods in the South from May 2-7.

• The front-month rubber contract on Singapore Exchange's SICOM platform for May delivery STFc1 last traded at 167.1 U.S. cents per kg, up 0.3%.

• China's financial markets are closed from May 1-5 for a public holiday. Trading will resume on Tuesday, May 6.

($1 = 145.4600 yen)