Rubber markets in Asia were subdued as bellwether Tokyo rubber futures was closed from 31 December 2013 to 3 January 2014, and most investors on other rubber futures in the region liquidated their long positions ahead of the year-end. These resulted in a fall on physical rubber markets in the region.
Investor concerns about a credit crunch in China and weak rubber market sentiment also weighed on investor confidence even though the Japanese yen still weakened against the dollar.
It is expected that rubber prices will remain volatile in the coming week because of weak investor confidence and market sentiments. In addition, rubber trees are going to shed their leaves in the coming months as the dry wintering season is approaching rubber producing countries in the region.
Source: IRCo
