TOKYO, March 23 (Reuters) – Benchmark TOCOM rubber futures were steady on Wednesday, losing steam after rising for four consecutive sessions.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for August delivery JRUc6 0#2JRU: had risen 0.1 yen to 180.5 yen per kg by 0035 GMT, after settling up 1.5 yen on Tuesday.
Industry data showed that crude rubber inventories at Japanese ports stood at 13,276 tonnes as of March 10, down 3.6 percent from the last inventory date.
MARKET NEWS
The U.S. dollar was quoted around 112.30 yen JPY= , compared with around 112.10 yen on Tuesday afternoon. FRX/
Japan’s benchmark Nikkei stock average .N225 was up 0.2 percent.
Copper prices steadied on Tuesday as the market waited to see whether signs of stronger demand in top consumer China are confirmed over coming months.
Brent oil prices settled steady on Tuesday after the deadly blasts in Brussels, while U.S.crude futures fell, then extended losses in post-settlement trade on industry data showing bigger than expected builds in domestic inventory.
DATA/EVENTS (GMT)
The following data is expected on Wednesday: (Time in GMT)
1400 U.S. New home sales Feb
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
