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Weak crude oil futures on New York Mercantile Exchange and weak rubber market sentiment weighed on most rubber futures and physical markets in Asia to stay on a downward trend during the week, while the Thai USS 3 and latex prices bucked the downward trend as natural rubber (NR) supply in the country remained tight.
It is noticeable that the daily trading volume on Tokyo rubber futures jumped from 6,532 lots in the day session on Monday to 21,940 lots on Friday, while technical charts have shown that NR prices are rebounding. As a result of the improvements in the two factors, market players on Tokyo rubber futures are expected to return to long positions in the coming weeks.
Source: IRCo
