TOKYO—Natural rubber futures closed higher during the trading week ended Nov. 4, amid short covering and new buying.
After hitting "multi-year lows" last month, markets gained following rumors that China would ease lockdowns and re-open the market, according to a weekly report by the Japan Stock Exchange JPX Nov. 7.
The news from China "spurred a rally in mainland stock markets, leading to an invert to the rubber price sentiment," it said.
All major rubber futures prices increased week-on-week as Japan's Osaka Exchange reported a 1.5-percent growth.
In China, SHFE saw an increase of 2 percent, while INE reported a 4-percent rise the prior week.
Singapore's SICOM rubber posted a 5-percent growth week-on-week.
Rubber prices have been under pressure over the recent weeks, due mainly to concerns about the supply chain, global recessions, weaker demand for tires in China and the strong dollar.
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