Investor concerns about the Syrian crisis dampened rubber market sentiment and investor confidence even though global stock markets stayed in an upward trend, and the Japanese yen stayed rangebound against the greenback throughout the week.
That resulted in long liquidation on the two bellwether rubber futures in Asia, Tokyo andShanghai rubber futures, while physical rubber markets in the region followed suit. However, rubber latex in Thailand still continued rising from the previous week.
If the U.S. and Russia could reach an agreement on Syria’s chemical weapons in the coming weeks, rubber market sentiment is expected to improve. That will support current rubber prices to point upward on the back of an improvement on global economic data.
Source: IRCo
