Natural rubber markets steady approaching yearend

Tokyo – Global rubber futures ended the trading week ended 19 Dec “little changed to marginally higher, trading within a narrow range,” Japan Exchange Group (JPX) reported.

Prices remained range-bound as market participants stayed cautious while winding down ahead of the yearend holidays, added the JPX weekly review issued 22 Dec.

While market sentiment was stable, ongoing massive rainfall in several producing countries during the year-end monsoon season provided mild underlying support, it added.

China's end-November total vehicle sales rose by 106,904 units to 3,428,998, providing additional support for rubber prices.

Reviewing rubber-related news, JPX noted that Ford Motor Co. was set to take a $19.5-billion write-down and scale back its EV strategy amid president Trump's auto policies and weakening EV demand.

More generally, US automotive sales fell 5.8% year-on-year in November to 1.27 million units, with the sharp contraction driven by a 67% plunge in EV sales.

Elsewhere, Malaysia's Top Glove, the world's largest glove maker, reported a 605% surge in net profit to RM38.6 million on cost optimisation and higher plant utilisation rates.