Natural rubber futures remain rangebound in subdued trading
Holiday period weighs on volumes as Chinese exchanges see long liquidation
Tokyo – Natural rubber futures ended the final days of the year mixed, with prices little changed across most exchanges.
During the week ended 2 Jan, trading activity remained subdued due to the year-end and new year holiday period, reported Japan Exchange Group (JPX) 5 Jan.
Weekly trading volumes across all exchanges fell from the previous week.
In Japan, on the Osaka Exchange (OSE), May delivery rubber contract closed 0.8% higher week-on-week, while contracts on the Shanghai Futures Exchange (SHFE) and INE declined by 0.8% and 0.7%, respectively.
In Singapore, SICOM’s active March rubber contract finished marginally firmer, up 0.5%, in quiet year-end trading.
According to JPX, “significant long liquidation” was observed on the Chinese exchanges, with open interest declining sharply across both the SHFE and INE markets.
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