TOKYO—Natural rubber futures closed lower across all major Far East rubber exchanges during the trading week ended May 26, according to Japan exchange group JPX.
Rubber prices faced selling pressures during the week amid concerns about slower rubber demand from China, the exchange said in its weekly trading review.
In Osaka, Japan, RSS3 rubber futures for September delivery dropped 1.5 percent week-on-week to Yen 205.8 ($1.47 USD) amid light trading, JPX reported May 29.
In China, SHFE RSS futures for September delivery fell 3.1 percent to Yuan 11,790 ($1,658.04 USD) while INE futures (July delivery) fell 2.1 percent to Yuan 9,475 ($1,332.48 USD).
On Singapore's SICOM exchange TSR20 futures for September delivery dipped 2 percent to $1.327 USD amid selling pressures by producers and speculators.
The declines were linked to concerns about China's economic recovery, which JPX said put "downside pressures" on rubber prices.
Particularly impacting market sentiment was a 12-percent month-on-month drop in Chinese vehicle sales recorded for the month of April.
"China's April vehicle sales fell 292,326 units to 2,158,704 units, and Chinese tire consumers showed lower rubber demand," reported JPX.
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