Rubber futures mixed in ‘tight and directionless trading’

Tokyo – Natural rubber futures closed the week mixed in “tight and directionless trading” across Far East markets, according to Tokyo-based Japan Stock Exchange (JPX).

In Osaka, OSE rubber futures (RSS3) for October delivery fell 0.2% during the trading week ended 16 June.

Despite “subdued trading activities”, OSE's open interest recorded a new high of 15,777 contracts “in response to establishing new positions,” said JPX 19 June.

In China, SHFE rubber futures (RSS) for January ’24 delivery and INE futures (TSR) for September delivery grew 0.4% in moderate trading volume.

In Singapore, SICOM futures (TSR20) inched up 0.3% amid “light new buying trading flows”.

According to JPX, consumer players continued to buy SICOM's near-month contracts “at a premium, at least a 9-10 cents premium for August deliveries, marking the price curve flattened.”

JPX expects that rubber prices will likely remain stable amid warm weather and in anticipation of the El Nino weather condition.

In China, reports of higher vehicle sales in the month of May has also given a “positive sign” to the market, despite a decline in demand for commercial vehicles.

Natural rubber futures price trends on main trading exchanges