NR futures fall for second week in a row

TOKYO—World rubber futures dropped sharply across all exchanges for a second week in a row during the trading week ended March 17, according to Japan Stock Exchange JPX.

In Japan, OSE rubber futures fell 4.9 percent with moderate trading volume, while SHFE and INE futures in China dropped 3.6 percent and 4.4 percent, respectively, amid heated trading activities.

In Singapore, SICOM futures shed 0.9 percent in response to some buying transactions by physical players and bottom fishers, JPX said in its weekly natural rubber report.

According to the exchange, rubber futures prices fell to a four-month low last week as trading was "dominated by long liquidation and stop-loss selling."

The banking turmoil in the U.S. increased fears of a global recession clouding commodities prices.

The decline last week follows a sharp fall in prices the week before, reflecting concerns about Chinese economic recovery, interest rates and global economic development.