TOKYO—Natural rubber futures closed the trading week ended Nov. 24 with mixed results, including more pronounced selling on RSS3 than TSR20 grades.
Overall, prices declined across most major exchanges, with Japan's OSE rubber futures for the active April contract dropping 1.2 percent week-on-week, according to the Japan Exchange Group.
With trading activities "generally subdued," JPX said prices "are congested and will likely move within Yen 260.0 – Yen 269.0 ($1.75-$1.81) levels in sideways trading."
In China, SHFE and INE rubber futures fell by 3.1 percent and 3.0 percent, respectively, while SICOM TSR closed slightly up on prior-week levels, JPX noted in its trading review issued Nov. 27.
Amid "mixed and unclear market sentiment," JPX pointed to the potential for market-consolidation over the next few weeks with a possible "upside bias." It added that physical rubber markets have exhibited some "arbitrage buying," likely influenced by seasonal year-end rubber demand.
