3 Jul 2024
“Continued weak performance of the Chinese economy was reflected in its stock markets…”
Tokyo – Natural rubber pricing presented a mixed picture across major rubber exchanges last week, according to the latest data from Japan Exchange Group (JPX).
During the trading week ended 28 June, market sentiment remained weak, “with both long liquidation and fresh speculative selling observed,” said JPX 1 July.
In Osaka, Japan, OSE rubber futures rose by 0.6% week-on-week due to light liquidation.
In China, SHFE and INE futures lost 0.4% and 1.7%, respectively, while SICOM rubber dropped by 1.6% week-on-week, driven by “speculative selling and position adjustments.”
According to JPX, RSS3 performed better than TSR20 as demand from tire consumers remained slow and global production “at full capacity.”
Furthermore, JPX noted that the continued weak performance of the Chinese economy was reflected in its stock markets, which fell to their lowest levels in four months.
In other rubber-related news, the Association of Natural Rubber Producing Countries has revised its rubber demand forecast for 2024 to 15.7 million tonnes, up from the previous estimate of 15.6 million tonnes.
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