Rubber futures pricing reverses in China, Singapore

Tokyo – Global rubber futures prices closed the trading week ended 29 March mostly lower across major exchanges, with the exception of the OSE in Osaka, Japan.

Trading volume also fell sharply across all exchanges as profit-taking set in, Tokyo Exchange Group (JPX) also reported in its latest weekly trading review.

While OSE rubber futures closed up by 1.1%, the SHFE and INE exchanges in China registered week-on-week declines of 1.5% and 2.5%, respectively.

In Singapore, meanwhile, natural rubber futures closed down by 1.3% on the SICOM exchange, according to the JPX report issued 1 April.

Last week saw “light, fresh buying interest on both the OSE and SICOM markets after prices experienced sharp declines from their recent highs,” noted JPX.

Meanwhile, it commented, ‘long liquidation’ persisted on China’s SHFE and INE exchanges, “leading to a sharp decrease in open interest.”