TOKYO—Natural rubber futures closed the trading week ended March 1 with mixed results across major rubber exchanges, the Japan Exchange Group (JPX) reported.
In its latest update March 4, JPX said a recent uptrend in NR prices had prompted "position adjustments and profit-taking" in the market.
In Osaka, Japan, pricing for OSE rubber futures fell by nearly 1 percent compared to levels recorded at the end of the previous week.
There was a different picture in China, however, with NR trading almost 1 percent higher on the Shanghai Futures Exchange and INE futures also showing marginal gains.
SHFE and INE markets "attracted speculative fund buying interest, leading to increased long positions," JPX reported.
In Singapore, meanwhile, SICOM futures remained steady and recorded marginal gains, driven by short-covering activities.
According to JPX, traders had anticipated that prices would consolidate and were likely to trade sideways "until a clearer direction emerged."
In other news, January vehicle sales in China fell 14 percent month-on-month to just under 2.5 million units, but still 57 percent up year-on-year.
JPX also noted Bridgestone's announced plans to exit the truck and bus tire business in China and instead concentrate on the premium passenger car tire segment there.