Rubber futures continue to slide for second week

Tokyo – World rubber futures dropped sharply across all exchanges for a second week in a row during the trading week ended 17 March, according to Japan Stock Exchange JPX.

In Japan, OSE rubber futures fell 4.9% with moderate trading volume, while SHFE and INE futures in China dropped 3.6% and 4.4%, respectively, amid heated trading activities. 

In Singapore, SICOM futures shed 0.9% in response to some buying transactions by physical players and bottom fishers, said JPX in its weekly natural rubber (NR) report.

According to the exchange, rubber futures prices fell to a four-month low last week as trading was "dominated by long liquidation and stop-loss selling."

The banking turmoil in the US increased fears of a global recession clouding commodities prices.

The decline last week follows a sharp fall in prices the week before, reflecting concerns about Chinese economic recovery, interest rates and global economic development.