Rubber futures mixed as markets in China, Singapore dip

Tokyo – Natural rubber futures closed the third week of January mixed, with most major markets witnessing week-on-week declines.

During the week ended 16 Jan, prices eased on profit-taking and position adjustments following a recent rally, reported Japan Exchange Group (JPX) 19 Jan.

In Osaka, Japan, OSE’s rubber contract for June delivery closed 1.3% higher week-on-week, supported by a weaker Japanese yen and light fresh buying interest.

In Shanghai, however, both SHFE and INE rubber ended lower, down 0.3% and 1.0% respectively, amid “long liquidation with active trading volumes.”

In Singapore, SICOM’s active April rubber contract closed the week down 1.0% on profit-taking.

Overall, JPX said, prices “took a breather” after rallying to nine-month highs in recent weeks, driven by strong physical demand and Chinese buying ahead of the lunar new year holidays beginning on 17 Feb.