Benchmark TOCOM rubber futures were steady on Wednesday, mimicking the Shanghai market which was stable overnight, although it remained near three-month lows.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for March delivery had edged up 0.3 yen to 202.1 yen ($1.80) per kg by 0003 GMT, after touching a 1-1/2 week low a day earlier.
* Key Shanghai futures ended overnight trading down 0.4 percent, hovering near a three-month low.
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MARKET NEWS
* Oil prices rose about 2 percent on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply.
* The U.S. dollar was quoted around 112.38 yen, compared with around 112.67 yen on Tuesday afternoon.
* Japan's benchmark Nikkei stock average was little changed.
* Copper prices reached their highest level in four weeks on Tuesday as speculators kept buying in response to expectations of potential shortages in China.
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