4 Nov 2025
Prices slip across major exchanges; physical premiums highlight margin pressure
Tokyo – Natural rubber (NR) futures softened in the final trading week of October as China’s manufacturing activity came in below expectations, adding pressure to market sentiment.
China’s official PMI for October registered 49.0, below the forecast 49.6, prompting traders to unwind long positions and limiting follow-through buying momentum, Japan Exchange Group (JPX) said 3 Nov.
According to JPX data, prices slipped across all major exchanges in the week to 31 Oct.
In Osaka, the OSE March 2026 contract closed 1.0% lower on the week in moderate trade.
In Shanghai, active January delivery contracts on SHFE and INE posted marginal declines, while in Singapore, SICOM’s January 2026 contract ended the week down 1.4%.
JPX noted that consumers in the physical market are currently paying premiums of 5–10 cents/kg over futures, depending on origin. This, it said, indicates processors are operating on "thin margins" at current price levels.
The softer data from China also revived expectations of additional government stimulus measures, JPX added.
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