Rubber futures drop sharply as sentiment turns bearish
“Speculative selling and long liquidations pushed prices downward amid heavy trading activities…”
Tokyo – World rubber futures dropped sharply in all major rubber exchanges over the trading week ended 10 March, Tokyo-based JPX has reported.
“Speculative selling and long liquidations pushed prices downward amid heavy trading activities,” according to the review by the Japanese exchange.
Selling pressures were evident In Japan, where rubber futures fell 4.6% on the Osaka OSE, said the trading report issued 13 March.
Similar trends were noted on China’s SHFE and INE exchanges, with rubber futures pricing dropping 4% and 4.5% respectively in heavy trading.
In Singapore, meanwhile, the analysts linked a 5.9% decline in SICOM futures to “long liquidation and stop-loss selling amid active trading volume.”
According to JPX, last week’s bearish turn in market sentiment reflected concerns about Chinese economic recovery, interest rates and global economic development.