TOKYO—Rubber future markets closed the trading week ended Sept. 3 sharply lower across all rubber exchanges, according to the latest report by the Tokyo-based JPX trading exchange.
In Osaka, OSE's new active February 2023 contracts ended about 4.6 percent below the prior-week's closing level, at $1.52 (JPY 216.6) amid "fresh speculative selling."
"Prices continued to drift lower all week as overseas rubber prices sank to new lows," noted JPX. Market sentiment, it added, "could remain bearish as there is little sign of recovery in the near term."
In China, meanwhile, JPX reported week-on-week declines ranging between 2.2 percent and 3.4 percent for SCR/RSS futures traded on the SHFE/INE exchanges.
Meanwhile, SICOM rubber futures dropped to recent lows as speculators and opportunistic investors "continued to try lower prices… (amid) speculative and stop-loss selling by traders having long positions."