RUBBER-Japan futures set for weekly gain on trade clarity, Thai weather woes

Aug 8 (Reuters) -

• Japanese rubber futures climbed on Friday, and were set for a weekly gain, as weather concerns in Thailand and improved clarity on U.S.-Japan trade policies buoyed market sentiment.

• The Osaka Exchange (OSE) rubber contract for January delivery JRUc6, 0#2JRU: was up 1 yen, or 0.32%, at 318.1 yen ($2.16) per kg, as of 0242 GMT.

• The contract has climbed 1.05% so far this week.

• The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery SNRv1 rose 45 yuan, or 0.29%, to 15,490 yuan ($2,156.69) per metric ton.

• The most active September butadiene rubber contract on the SHFE SHBRv1 gained 5 yuan, or 0.04%, to 11,510 yuan ($1,602.55) per metric ton.

• Top rubber producer Thailand's meteorological agency warned of severe conditions and accumulated rains from August 10-13.

• The U.S. government said on Thursday that President Donald Trump would lower auto tariffs on Japan to 15% from 27.5%, in line with the agreement reached between the two countries.

• This comes as much of the agreement made last month was never put into a signed document, sparking concerns that some Japanese companies could be subjected to higher tariffs than expected.

• Meanwhile, major Japanese automaker Toyota has cut its operating profit forecast for the business year by 16%. However, it will keep making cars for U.S. customers regardless of any impact from the tariffs, said Takanori Azuma, Toyota's head of finance, adding that inventories are low so many customers are waiting in both the U.S. and Japan.

• Japanese automakers are among the hardest hit in the trade war as they resist raising prices, squeezing profit margins.

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

• The front-month rubber contract on Singapore Exchange's SICOM platform for September delivery STFc1 last traded at 167.2 U.S. cents per kg, down 0.3%.

($1 = 147.1900 yen)

($1 = 7.1823 Chinese yuan)