Bellwether Tokyo and Shanghai rubber futures showed an upward trend during the week mainly caused by a weak yen against the dollar and the improvement in rubber market sentiment in China while physical rubber markets in Asia followed suit.
At the same time, the continued rains in southern Thailand still limited rubber tapping that caused Thai rubber exporters to sell their rubber stocks overseas. And this will result in a decline of rubber stocks in the country in the coming months.
It is expected that rubber markets in the region in the coming week will be directed mainly by a move of the yen against the dollar and rubber market sentiment in China despite the current rubber market fundamentals remain intact.
Source: IRCo
