29 Aug 2023
After weeks in the doldrums, JPX reports upswing in natural rubber prices on Far East markets
Tokyo - Natural rubber (NR) futures pricing made "siginificant gains" during the trading week ended 25 Aug, Japan Stock Exchange (JPX) has reported.
The gains, which followed weeks of NR market doldrums, were driven by “substantial buying activities from speculative and commodity funds”, JPX said 28 Aug.
On Japan’s Osaka Exchange, OSE rubber futures for January delivery rallied to register a 6.7% increase amid solid trading volumes.
In China, SHFE rubber contracts for January delivery grew 3.4% week-on-week, while INE futures gained 2.9%, noted the JPX's weekly market report.
Likewise, on Singapore's SICOM exchange, NR futures prices saw week-on-week growth of 3.3%, driven by short-covering trading.
Overall, JPX linked the improvements to markets “shifting to be optimistic” about a potential rebound in the Chinese economy later in the year.
Furthermore, it said, increased demand for rubber in European countries buoyed market sentiment during the trading week.
Selected NR futures price trends on major trading exchanges
|
Exchange |
Commodity |
Delivery |
Week to 18/8 |
Week to 25/8 |
% Change |
|
Osaka |
RSS3 |
Jan ‘24 |
198.6 (JPY) |
212.0 (JPY) |
+6.7% |
|
SHFE |
SCR/RSS |
Jan ‘24 |
12,820 (CNY) |
13,255 (CNY) |
+3.4% |
|
INE |
TSR |
Nov ‘23 |
9,455 (CNY) |
9,735 (CNY) |
+2.9% |
|
SICOM |
TSR20 |
Feb ‘24 |
128.3 (US$c) |
132.5 (US$c) |
+3.2% |
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