RUBBER-Japan futures log weekly gain on US-China trade talk hopes

SINGAPORE, May 9 (Reuters) -

• Japanese rubber futures climbed for a seventh consecutive session on Friday and posted weekly gains on hopes of easing trade tensions, ahead of the U.S.-China trade talks, while higher oil prices also lent support.

• The Osaka Exchange (OSE) October rubber contract JRUc6, 0#2JRU: closed up 0.6 yen, or 0.2%, at 301.2 yen ($2.07) per kg. The contract has risen 1.45% this week.

• The September rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 eased 75 yuan, or 0.51%, to 14,620 yuan ($2,017.86) per metric ton.

• The most active June butadiene rubber contract on the SHFE SHBRv1 added 170 yuan, or 1.51%, to 11,450 yuan ($1,580.33) per metric ton.

• U.S. President Donald Trump said on Thursday that he expects substantive negotiations with China this weekend and that the 145% tariffs on Beijing would likely come down.

• Oil prices were up on Friday, after rising about 3% in the previous session, supported by the looming U.S.-China trade talks. 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, China's exports rose faster than expected in April, while imports narrowed their declines, customs data showed.

• However, Toyota Motor 7203.T expects profit to decline by a fifth in the current financial year, weighed down by a weakness in the U.S. dollar and the impact of Trump tariffs.

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

• The front-month June rubber contract on the Singapore Exchange's SICOM platform STFc1 last traded at 171.4 U.S. cents per kg, down 0.5%.

($1 = 145.2900 yen)

($1 = 7.2453 Chinese yuan)