Increases across all major exchanges linked to better-than-expected economic data from China
Tokyo – After a run of recent declines, global rubber futures closed the trading week to 9 Aug higher week-on-week across major exchanges, Japan Exchange Group (JPX) has reported.
In Osaka, Japan, OSE rubber gained 2.1% amid generally quiet trading, while China’s SHFE and INE exchanges saw a 1.8% increase, JPX noted in its weekly review.
Meanwhile, on Singapore’s SICOM exchange, rubber futures prices rose by 1.5% week-on-week, “buoyed by renewed buying activity,” said the report issued 12 Aug.
Overall, the NR price gains were driven by short-covering and fresh buying interest, linked to better-than-expected economic data from China, according to JPX.
“China’s July CPI increased by +0.5%, surpassing expectations of +0.3%, offering some initial optimism for China’s economic recovery,” said the market-watcher.
