11 Apr 2023
Concerns over manufacturing trends end pricing rally seen over previous couple of weeks
Tokyo – World natural rubber futures closed lower on all major Far East exchanges in the trading week ended 7 April, Japan's JPX exchange has reported.
The pricing reversal, which ended a rally seen over the previous couple of weeks, was linked to negative manufacturing data worldwide.
On the Osaka exchange in Japan OSE rubber futures fell 2.6%, while SHFE and INE futures in China dropped 3.8% and 2.7% respectively.
In Singapore, SICOM futures fell by 2.0%, amid a shorter trading week for the Easter holiday.
Futures prices drifted lower as industrial production figures raised concerns about a global economic slowdown, said JPX's report issued 10 April.
These included Japan's 'large manufacturing index, which registered a major decline in the first quarter.
Rubber traders were similarly concerned by negative trends in manufactuing-industry data for March, from both the US and China.
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