12 Jun 2023
But trading subdued by cooling demand and supply issues amid dry weather, El Nino
Tokyo – Natural rubber (NR) futures inched up during the trading week ended 9 June, amid subdued trading, Tokyo-based JPX has reported.
On the Osaka exchange in Japan, OSE rubber futures (RSS3) for September delivery rose 0.7%, according to the review issued 12 June.
In China, meanwhile, NR futures prices on the SHFE (RSS) and INE (TSR) exchanges lifted 1.1% and 1.9% respectively.
SICOM futures (TSR20) in Singapore closed 1.5% higher amid “tight physical market conditions [with] tire consumers paying a 10-12 cents premium on near-month deliveries.”
Summarising last week's trading, JPX said rubber prices had moved within a tight range as “poorer China's economic data cooled market sentiment.”
On the supply side, concerns about further dry weather and El Niño also weighed on trader sentiment, added the weekly report.
Natural rubber futures price trends on main trading exchanges
|
Exchange |
Commodity |
Delivery |
Week to 2/6 |
Week to 9/6 |
% Change |
|
Osaka |
RSS3 |
Sept ‘23 |
206.1 (JPY) |
207.6 (JPY) |
+0.7% |
|
SHFE |
SCR/RSS |
Sept ‘23 |
11,925 (CNY) |
12,070 (CNY) |
+1.2% |
|
INE |
TSR |
Aug ‘23 |
9,560 (CNY) |
9,750 (CNY) |
+1.9% |
|
SICOM |
TSR20 |
Sept ‘23 |
130.8 (US$c) |
132.7 (US$c) |
+1.5% |
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