LONDON—Natural rubber futures in the Far East markets monitored by European Rubber Journal were subdued in the two weeks to Jan. 28, ahead of the week-long Chinese New Year holiday.
Japanese rubber futures hit a four-week low on Jan. 25, finishing at $2.02 (Yen 233.2)/kg, before bouncing to a $2.08/kg close on Jan. 28.
Despite the recovery, Osaka Exchange rubber contracts for July delivery was down 2.8 percent compared to Jan. 14, while Shanghai Futures' weekly average for the most active rubber contract for May delivery fell 6.8 percent.
A readjusting of positions by traders ahead of the lunar year holiday, as well as a decision by the U.S. Federal Reserve System to increase interest rates in March, impacted futures prices.
Physical markets, bar Kuala Lumpur latex, were generally weak over the two-week period, with Kottayam RSS4 prices flat amid renewed tapping activities.
In Kuala Lumpur, weekly average price for latex inched up 3.0 percent, while SMR20 contracts fell 1.5 percent compared to two weeks before.
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