Rubber futures subdued amid ‘weak global demand’

Tokyo – Natural rubber (NR) futures remained subdued during the trading week to 12 July with markets going through a ‘consolidation phase’, Japan Exchange Group (JPX) has reported

In Osaka, Japan, OSE rubber futures for December delivery increased by 0.2% week-on-week in quiet trading, while China’s SHFE and INE rubber declined marginally by 0.1% and 0.3%, respectively.

In Singapore, SICOM rubber remained unchanged from the previous week, according to the latest JPX weekly market review.

“Weak global demand and a lack of clear price direction have led to a consolidation phase for rubber prices,” said the report issued 15 July.

These developments, noted the market-watcher, have resulted in reduced weekly trading volumes across the board, except for SICOM.

In related news, China's vehicle sales surged 6% year-on-year in June, reaching a total of 2.5 million units.

Malaysia's natural rubber production rose 20% month-on-month in May, reaching 25,608 tonnes compared to 21,325 tons in April, JPX also reported.