TOKYO—Natural rubber futures closed the week mixed in "tight and directionless trading" across Far East markets, according to Tokyo-based Japan Stock Exchange (JPX).
In Osaka, OSE rubber futures (RSS3) for October delivery fell 0.2 percent during the trading week ended June 16.
Despite "subdued trading activities," OSE's open interest recorded a new high of 15,777 contracts "in response to establishing new positions," said JPX June 19.
In China, SHFE rubber futures (RSS) for January 2024 delivery and INE futures (TSR) for September delivery grew 0.4 percent in moderate trading volume.
In Singapore, SICOM futures (TSR20) inched up 0.3 percent amid "light new buying trading flows."
According to JPX, consumer players continued to buy SICOM's near-month contracts "at a premium, at least a 9-10 cents premium for August deliveries, marking the price curve flattened."
JPX said it expects that rubber prices will likely remain stable amid warm weather and in anticipation of the El Nino weather condition.
In China, reports of higher vehicle sales in the month of May also have given a "positive sign" to the market, despite a decline in demand for commercial vehicles.
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