11 Nov 2024
Commodity prices up across major Far East markets amid equity-surge on US election result...
Tokyo – Natural rubber futures strengthened during the trading week ended 8 Nov, driven by gains in global equities following the US presidential election results.
All major Far East markets closed the week higher amid expectations of lower interest rates, and declining official SHFE rubber stock levels, reported Japan Stock Exchange (JPX).
In Osaka, Japan, OSE’s April-2025 contract rose 4.6% week-on-week on light short covering, according to JPX's latest weekly review.
On China’s SHFE and INE exchanges, natural rubber pricing advanced by 4.6% and 5.7% respectively, noted the report issued 11 Nov.
In Singapore, meanwhile, SICOM rubber prices ended the week 1.5% above the prior-week level, supported by 'new position-building' among buyers.
'Speculative trading looked active, with buying on the Chinese rubber futures adding momentum to the rally,' continued the Tokyo-based market watcher.
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