Rubber futures increased to a 38-week high of 256.6 JPY/Kg, amid elevated oil prices along with expectations of stronger demand and tight supply. Factories in China are restarting production after the Lunar Year Long Weekend while there are signs the automotive chips shortage is easing. Automakers, including General Motors, Ford Motor, and Hyundai Motor, predict a near two-year chip constraint will ease in the second half of 2022. Also, oil prices remain elevated, with ongoing concerns over the Ukrainian border weighing on the market while higher raw material prices and heavy rain in top producer Thailand raised concerns of slower output. 

Shiba Inu 