Khoi Nguyen

Rubber

  • Home
  • About us
  • Products
  • Packing
  • News
    • Global rubber market news
    • Global rubber prices reports
  • Prices list updates
    • World rubber prices
    • Vietnam rubber prices
  • Contact us

TOCOM rubber surges to 1-1/2-week high on higher oil, yen’s fall

06/10/2016 By adminweb

TOKYO, Oct 5 (Reuters) – Benchmark Tokyo rubber futures surged to a 1-1/2-week high on Wednesday on the back of higher oil prices and the yen’s fall against the U.S.dollar.

The Tokyo Commodity Exchange (TOCOM) rubber contract for March delivery JRUc6 0#2JRU: finished 4.6 yen, or 2.8 percent, higher at 170.6 yen ($1.66) per kg, near a four-month high of 170.9 yen hit on Sept.23.

“Firmer oil prices and lower yen prompted a string of buying,” said Hiroyuki Kikukawa, general manager of research at Nissan Securities. Oil prices rose in early trading after a report that U.S.fuel inventories may have fallen for a fifth straight week, but contracts remained near the $50 marker where many traders currently see fair value for crude.

O/R The U.S. dollar was slightly lower at 102.86 yen JPY= in late Asian trade after rising to a three-week high of 102.965 the previous day, when it posted its sixth straight session of gains versus its Japanese peer. FRX/ A weaker yen makes yen-denominated assets more affordable when purchased in other currencies.

“The TOCOM may gain further tomorrow, but investors will likely take profits before the three-day weekend in Japan,” he added. Chinese markets remained closed for National Day holidays.

Japanese markets will be closed on Monday for a public holiday. A flurry of data from China, the world’s top rubber buyer, in the coming weeks is expected to point to modest improvement in the economy in the third quarter as a government infrastructure spree and a housing boom boosts demand from steel and glass to furniture and appliances.

The front-month rubber contract on Singapore’s SICOM exchange for November delivery STFc1 last traded at 143.1 U.S. cents per kg, up 3.3 cents.

($1 = 102.8800 yen)

(Reporting by Yuka Obayashi; Editing by Subhranshu Sahu)

Filed Under: Global rubber market news, News

NEWS

Vietnam: F.O.B SVR Physical Prices: March 7, 2017

India: Rubber may remain bearish this week

Fall in rubber price may reflect in domestic market in India

TOCOM rubber hits near 16-month high on weak yen

Vietnam: F.O.B SVR physical prices: November 15, 2016

TOCOM rubber ends up on worries over shortage, weaker yen

Asian physical rubber prices: November 14, 2016

TOCOM rubber tumbles 3.8 pct after touching near 16-mth high

Thailand: Natural Rubber prices: November 11, 2016

TOCOM rubber heads for biggest weekly gain since 2013

Vietnam: F.O.B SVR physical prices: November 11, 2016

TOCOM rubber hits 15-month high on weak yen, firm Shanghai

Indonesia: Natural Rubber Prices on November 10, 2016

Tokyo rubber futures rise to near 6-1/2 month high

Asian physical rubber prices: November 9, 2016

© 2001–2021 Copyright by KHOI NGUYEN. Designed by SGC

  • Home
  • About us
  • Products
  • Packing
  • News
    ▼
    • Global rubber market news
    • Global rubber prices reports
  • Prices list updates
    ▼
    • World rubber prices
    • Vietnam rubber prices
  • Contact us