TOKYO—Natural rubber pricing presented a mixed picture across major rubber exchanges last week, according to the latest data from Japan Exchange Group (JPX).
During the trading week ended June 28, market sentiment remained weak, "with both long liquidation and fresh speculative selling observed," JPX said July 1.
In Osaka, Japan, OSE rubber futures rose by 0.6 percent week-on-week due to light liquidation.
In China, SHFE and INE futures lost 0.4 percent and 1.7 percent, respectively, while SICOM rubber dropped by 1.6 percent week-on-week, driven by "speculative selling and position adjustments."
According to JPX, RSS3 performed better than TSR20 as demand from tire consumers remained slow and global production "at full capacity."
Furthermore, JPX noted that the continued weak performance of the Chinese economy was reflected in its stock markets, which fell to their lowest levels in four months.
In other rubber-related news, the Association of Natural Rubber Producing Countries has revised its rubber demand forecast for 2024 to 15.7 million metric tons, up from the previous estimate of 15.6 million tons.
