TOKYO—Global rubber futures ended the final trading week of 2024 with mixed performances across major exchanges, according to the Japan Exchange Group (JPX).
Over the five days to Dec. 27, trading volumes dropped sharply due to the Christmas and New Year holidays, with market activity characterized by long liquidation and short covering.
Typifying the trend, rubber futures pricing on the Osaka OSE edged up by 0.2 percent in subdued trading, according to JPX's weekly review issued Dec. 30.
In China, SHFE rubber declined by 0.6 percent amid long liquidation, while INE rubber gained 0.2 percent on fresh buying interest.
On Singapore's SICOM exchange, meanwhile, rubber futures pricing advanced by 1.8 percent, driven by light short covering.
JPX went on to highlight significant market developments, including a report that the Vietnam Rubber Association had set a target to increase rubber exports by 10 percent in 2025.
China, it noted, is set to remain the largest buyer of Vietnamese rubber, having taken a 67.6-percent share in 2024 at an estimated export value of $3.0 billion to $3.2 billion.
Elsewhere, JPX noted that Thailand's rubber production had suffered a nearly 30-percent decline in December due to heavy rains and floods in the southern provinces.
The Rubber Authority of Thailand reported a production reduction of about 320,000 metric tons, with 953,600 hectares affected across eight provinces, according to the report.