NR futures ‘mixed’ on subdued trading

Tokyo – Natural rubber futures were mixed over the first trading week of November, with the Osaka Exchange edging higher, while other markets slipped on light trading and renewed speculative selling.

Buying interest remained limited after China reported weaker macro indicators, including a 1.1% year-on-year decline in October exports and a softer Caixin manufacturing PMI reading of 50.6, reported Japan Exchange Group (JPX) 10 Nov.

In Shanghai, China, SHFE and INE contracts fell 1.5% and 2.3% respectively, alongside rising open interest, suggesting “additional speculative pressure.”

In Singapore, the SICOM January-2026 contract also weakened, slipping 1.1% on light selling.

By contrast, the OSE April-2026 contract gained 0.6% in what traders described as “quiet, low-volume” dealing.

According to JPX, the forward curve across major exchanges “remains broadly flat, with only a mild contango.”

This, it said, indicate that prices are likely to stay range-bound with subdued trading volumes in the coming weeks.