TOKYO—Global rubber futures closed the year with gains across major exchanges in the trading week ended Dec. 29, the Japan Exchange Group (JPX) reported.
On Japan's Osaka exchange, pricing for OSE rubber futures rose 4.5 percent in moderate trading, according to the weekly review of Far East rubber markets, issued Jan. 1.
In China, meanwhile, futures pricing on the SHFE and INE exchanges increased by 1.8 percent and 5.7 percent respectively "in solid trading volume."
On the SICOM exchange in Singapore, rubber futures also rose 4.3 percent in active trading, added the JPX report. The general pick-up in pricing for the commodity was driven by fresh speculative buying and short-covering as traders closed their books for the year, it said.
The final trading week of 2023 also saw "robust buying" on Chinese exchanges linked to optimism about an economic recovery in China for 2024.
Furthermore, JPX noted, "concerns over a potential rubber shortage in the coming year, attributed to declining production in both Thailand and Indonesia."
