TOKYO—Natural rubber futures closed higher in all major rubber exchanges and recovered from multi-year lows during the trading week ended Nov. 11.
The strong recovery of the global stock markets during the latter part of the week supported the rubber market sentiment, said the Japanese Stock Exchange JPX in its weekly report Nov. 14.
In addition, China relaxed COVID-19 restriction measures on Nov. 11, shortening the quarantine period for inbound travelers.
The new measures by Beijing, JPX said, help improve market sentiment as they signal the re-opening of the Chinese markets and borders.
In Japan, OSE rubber futures rallied 1.6 percent, while Sicom futures rose 4.1 percent with new speculative buying activities.
In China, SHFE and INE futures rose 3.1 percent and 1.7 percent, respectively.
Both markets, said JPX, decreased their open interests, "indicating that some short-cover transactions occurred."