6 Nov 2023
JPX: 'Long liquidations' in China linked to limited buying activity in NR markets
Tokyo – Natural rubber (NR) futures closed mixed across major Far East rubber exchanges for the trading week ended 3 Nov, Japan Stock Exchange (JPX) has reported.
In Osaka, Japan, OSE futures closed slightly lower in quiet trading, while pricing on China’s SHFE and INE futures fell 1.7% and 1.6%, respectively, amid “reduced trading volumes.”
In Singapore, SICOM futures posted a positive development, albeit small at 0.6% week-on-week, underpinned by buying from physical players.
'Long liquidations', said JPX's weekly review, “dominated the Chinese market, indicating limited buying activities following a recent market rally.”
Furthermore, lower-than-expected figures from China's manufacturing sector for October also influenced rubber prices negatively, added the 6 Nov report.
Selected NR futures price trends on major trading exchanges
|
Exchange |
Commodity |
Delivery |
Week to 27/10 |
Week to 03/11 |
% Change |
|
Osaka |
RSS3 |
April ‘24 |
258.8 (JPY) |
258.6 (JPY) |
-0.0% |
|
SHFE |
SCR/RSS |
Jan ‘24 |
14,515 (CYN) |
14,260 (CYN) |
-1.7% |
|
INE |
TSR |
Dec ‘23 |
10,915 (CNY) |
10,375 (CYN) |
-1.6% |
|
SICOM |
TSR20 |
Jan ‘24 |
145.6 (US$c) |
146.5 (US$c) |
+0.6% |
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