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Tokyo rubber futures rebound on bargain-hunting

14/06/2016 By adminweb

TOKYO, June 13 (Reuters) – Benchmark TOCOM rubber futures rose on Monday, snapping a 4-day losing streak, as investors looked for bargains after prices touched a four-month low last Friday and fell for the seventh week in a row amid worries over slow demand in top buyer China.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for November delivery JRUc6 0#2JRU: was up 1.9 yen, or 1.3 percent, at 149.9 yen ($1.41) per kg as of 0046 GMT, after dipping to a 4-month low last Friday and marking its longest losing streak since February 2014. RUB/T

MARKET NEWS

The U.S. dollar was quoted around 106.61 yen JPY= early on Monday, hovering at near the Friday’s low. FRX/

Japan’s benchmark Nikkei stock average (XC0009692440) was down 2.1 percent in Monday trade, after a slide in Wall Street share prices (US78378X1072) on Friday, amid rising worries about the global economy ahead of Britain’s referendum on whether to stay in the European Union. .N

Oil prices settled down 3 percent on Friday after data showing the U.S.oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures.

DATA/EVENTS (GMT)

The following data is expected on Monday: (Time in GMT)

0200 China Industrial output May
0200 China Retail sales May
0200 China Urban investment May
($1 = 106.5400 yen)

(Reporting by Yuka Obayashi; Editing by Joseph Radford)

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

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