TOKYO—Natural rubber futures closed the trading week ended Sept. 15 with a mixed performance across major Far East exchanges, according to Japan Stock Exchange (JPX).
In Osaka, Japan, OSE rubber future for February delivery gained 1 percent, while Shanghai futures closed "slightly higher" week-on-week, said JPX's weekly report Sept. 18.
By contrast, China's INE futures for November delivery decreased by 1 percent alongside "a sharp drop in trading volume led by light profit-taking."
Singapore's SICOM continued its strong performance of recent weeks: a 2.5-percent week-on-week increase in TSR20 futures pricing, "reflecting ongoing bullish market sentiment."
According to JPX, there have been "some position adjustments" in the rubber market following a rally in recent weeks. This has led to an "expectation of price consolidation as the market takes a breather."
Furthermore, commodity funds, often the primary buyers on China's SHFE and INE exchanges, "have slowed down their pace but are maintaining their long positions."
Nevertheless, JPX noted overall optimism in the market for a "gradual economic recovery in China," following a recent interest-rate cut by the country.
Vehicle sales improved 8 percent month-on-month in August, "positively impacting rubber prices," the JPX said.
Additionally, it said, heavy rains in the southern regions of China, including Guangzhou, Hong Kong and Hainan, might also have contributed to stronger pricing.
