TOKYO—Natural rubber futures declined during the trading week ended Dec. 1, primarily on "long-liquidation activities by speculative and commodity funds," the Japan Exchange Group reported.
In Osaka, Japan, OSE's new active May 2024 rubber contracts dropped 3.5 percent week-on-week, while SHFE and INE rubber futures fell 2.7 percent and 3.4 percent, respectively.
In Singapore, meanwhile, active rubber futures for March delivery declined 3.9 percent week-on-week, with trading volumes dropping compared to the week before.
"Substantial selling" was observed on China's SHFE and INE exchanges, according to the latest JPX weekly trading report, issued Dec. 4.
The selling, it noted, was influenced by concerns over an increase in respiratory illnesses in China, which heightened fears of a potential resurgence of a pandemic.
Furthermore, weaker manufacturing PMI figures from China hinted at a slowdown in demand for vehicle sales, the report added.
Market sentiment has "turned bearish" due to these declines, JPX said, suggesting continued downward pressure in the coming weeks.
