TOKYO—Rubber futures closed the trading week ended June 23 lower across all major Far East exchanges, the JPX stock exchange has reported.
Prices continued to drift lower on concerns over a weaker Chinese economy, which is expected to result in sluggish rubber demand, according to the stock exchange's June 26 report.
Rubber prices have been weak for the past three months, with sideways trading, creating a challenging environment for traders and producers, it added, noting volumes fell sharply on all exchanges last week, largely due to a June 22-23 holiday closure of trading in China.
In Osaka, Japan, pricing for rubber (RSS3) futures for October delivery fell 1.2 percent amid "generally quiet" trading activity.
On the other hand, OSE futures "open interest" reached a new high of 16,290 contracts since November 2020, "attracting significant attention from market participants."
On China's SHFE and INE exchanges, meanwhile, tracked futures prices fell by 0.6 percent and 0.4 percent, respectively, over the shortened trading week.
In Singapore, SICOM's active September 2023 contract prices dropped 1.7 percent amid a drop in trading volume of over 15,000 contracts from the previous week.
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