Natural rubber futures end 2024 on a flat note

Tokyo - Global rubber futures ended the final trading week on 2024 with mixed performances across major exchanges, Japan Exchange Group (JPX) has reported.

Over the five days to 27 Dec, trading volumes dropped sharply due to the Christmas and New Year holidays, with market activity characterised by long liquidation and short covering. 

Typifying the trend, rubber futures pricing on the Osaka OSE edged up by 0.2% in subdued trading, according to JPX’s weekly review issued 30 Dec.

In China, SHFE rubber declined by 0.6% amid long liquidation, while INE rubber gained 0.2% on fresh buying interest.

On Singapore’s SICOM exchange, meanwhile, rubber futures pricing advanced by 1.8%, driven by light short covering. 

JPX went on to highlight significant market developments, including a report that the Vietnam Rubber Association had set a target to increase rubber exports by 10% in 2025.

China, it noted, is set to remain the largest buyer of Vietnamese rubber: having taken a 67.6% share in 2024 at an estimated export value of $3.0-3.2 billion. 

Elsewhere, JPX noted that Thailand's rubber production had suffered a nearly 30% decline in December due to heavy rains and floods in the southern provinces. 

The Rubber Authority of Thailand reported a production reduction of about 320 kilotonnes, with 953,600ha affected across eight provinces, said the report.