11 Jul 2022
Fears of further Covid restrictions in China impact markets
Osaka, Japan – World rubber futures closed the week ending 8 July lower across all major exchanges, according to the Japan Exchange weekly rubber report.
The prices fell due to strong selling from the plunge in the Chinese market, the JPX report said 11 July.
Osaka rubber futures slipped 3%, while Chinese-based SHFE and INE markets fell 1.5%.
In Singapore, rubber futures fell 2.1% with moderate trading volume.
According to the JPX report, China’s news of further Covid restrictions and mass testing in some cities harmed the rubber market.
A stronger US dollar arising from the battle against inflation and fear of recession also put pressure on commodity prices, where copper, grains, and crude oil prices fell sharply.
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
