TOKYO—After a run of recent declines, global rubber futures closed the trading week to Aug. 9 higher week-on-week across major exchanges, Japan Exchange Group (JPX) reported.
In Osaka, Japan, OSE rubber gained 2.1 percent amid generally quiet trading, while China's SHFE and INE exchanges saw a 1.8-percent increase, JPX noted in its weekly review Aug. 12.
Meanwhile, on Singapore's SICOM exchange, rubber futures prices rose by 1.5 percent week-on-week, "buoyed by renewed buying activity," JPX said.
Overall, the NR price gains were driven by short-covering and fresh buying interest, linked to better-than-expected economic data from China, according to JPX.
"China's July CPI increased by +0.5 percent, surpassing expectations of +0.3 percent, offering some initial optimism for China's economic recovery," the market-watcher said.
