Japanese rubber futures came under pressure and retreated on Friday, but still recorded a second consecutive week of gains.
智通财经2026/08/28 09:11- Osaka Exchange rubber futures closed lower on Friday, dragged down by weaker crude oil prices. Downstream tire demand remained sluggish and finished goods inventory pressure increased, further dampening market sentiment. However, the contract still recorded a weekly gain of about 0.8%.
- Shanghai Futures Exchange rubber and butadiene rubber contracts, on the other hand, closed higher against the trend, with gains of approximately 1.5% and 1.9% respectively. The divergence between domestic and overseas markets reflects the relatively independent pricing logic of domestic markets, which are mainly supported by the supply side.
- Natural rubber prices are usually linked to oil prices due to the competition for market share between natural rubber and synthetic rubber, the latter produced from crude oil. Falling oil prices have weakened the relative price advantage of natural rubber, putting some pressure on buying activity.
- Institutional analysis points out that downstream tire manufacturers are facing dual pressures from weakening new order expectations and accumulating finished goods inventories. Operating rates have shown marginal loosening, with semi-steel tire capacity utilization declining slightly, while all-steel tire utilization has edged up. End-market demand recovery remains uneven.
- Singapore rubber contracts also moved higher simultaneously, indicating that quotes in Southeast Asian production areas remain resilient. In the short term, the natural rubber market will continue to seek a balance between crude oil’s directional guidance and expectations for downstream demand recovery.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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