7 Nov 2022
All major markets report increases as China reportedly eases lockdown
Tokyo – Natural rubber futures closed higher during the trading week ended 4 Nov, amid short covering and new buying.
After hitting “multi-year lows” last month, markets gained following rumours that China would ease lockdowns and re-open the market, said a weekly report by Japan Stock Exchange JPX 7 Oct.
“[The news from China] spurred a rally in mainland stock markets, leading to an invert to the rubber price sentiment,” it said.
All major rubber futures prices increased week-on-week as Japan’s Osaka Exchange reported a 1.5% growth.
In China, SHFE saw an increase of 2% while INE reported a 4% rise on the prior week.
Singapore’s SICOM rubber posted a 5% growth week-on-week.
Rubber prices have been under pressure over the recent weeks, due mainly to concerns about the supply chain, global recessions, weaker China's demand for tires, the strong dollar.
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
