Rubber futures move sideways as trading volume drops in most markets

Tokyo – World rubber futures closed mixed during the week ended 24 March with little price changes from the week before, according to the latest update by Japan Stock Exchange JPX.

Trading volume dropped sharply in major exchanges except for Japan's OSE rubber futures, said the 27 March report.

OSE's trading volume soared more than 70% amid new selling pressure, while in China, SHFE and INE's volume dropped 26% and 24%, respectively, with long liquidation and new short transactions.

SICOM futures price changed slightly despite large drops in trading volume of 34% from the previous week.

Rubber prices, JPX said “were put aside” in the global market under the uncertain and bearish market conditions.

Market conditions were mainly influenced by US banking turmoil, anticipation of further interest rate hikes and a stronger dollar.