TOKYO, Dec 28 (Reuters) – Benchmark TOCOM rubber futures edged down on Monday, weighed by a sluggish rise in demand from top consumer China.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for June delivery JRUc6 0#2JRU: fell 0.3 yen to 163.4 yen per kg by 0043 GMT, after settling down 1.1 yen on Friday. The benchmark contract has fallen more than 20 percent this year mainly due to worries over Chinese demand.
Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 2.4 percent from the previous week, the exchange said on Friday.
MARKET NEWS
The U.S. dollar was quoted around 120.30 yen JPY= , little changed from Friday afternoon.
Japan’s benchmark Nikkei stock average .N225 was up 0.1 percent. MKTS/GLOB
U.S. oil prices fell on Monday after the long Christmas weekend, with U.S.crudes defending a newly gained premium over internationally traded Brent contracts.
DATA/EVENTS (GMT)
The following data is expected on Monday: (Time in GMT)
– 2350 Japan Industrial output prelim Nov
(Reporting by Osamu Tsukimori; Editing by Michael Perry)
