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Tokyo rubber futures rise on firmer oil, weaker yen

04/10/2016 By adminweb

TOKYO, Oct 4 (Reuters) – Benchmark TOCOM rubber futures climbed on Tuesday on firmeroil prices and a lower yen against the U.S.dollar, but trade was light as Chinese markets are shut this week for the National Day holiday.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for March delivery JRUc6 0#2JRU: was up 0.7 yen, or 0.4 percent, at 164.1 yen ($1.61) per kg as of 0036 GMT, after ending steady the previous day. RUB/T

Major automakers posted September U.S. sales on Monday that were slightly lower than a year ago, despite big consumer discounts, as pickup truck volumes fell for both General Motors Co GM.N and Ford Motor Co F.N.

MARKET NEWS

Oil rose more than 1 percent on Monday, with Brent settling above $50 a barrel the first time since August and U.S.crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.

The U.S. dollar was quoted around 101.96 yen JPY= , gaining on data showing the U.S.manufacturing sector grew by more than expected in September.

A weaker yen makes yen-denominated assets more affordable when purchased in other currencies. USD/

Japan’s benchmark Nikkei stock average .N225 was up 0.6 percent, helped by a softer yen. MKTS/GLOB

DATA/EVENTS (GMT)

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

0900 Euro zone Producer prices Aug

1345 U.S. ISM-New York index Sep

($1 = 101.9500 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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