The Tokyo RSS RSS2005 contract opened at 188.5 yen in the early morning, down 0.8 yen from the previous trading day. The TSR2006 contract opened at 149.1 yen, which was unchanged from the previous trading day. The dollar-yen exchange rate was around 108.98 in the morning.
Yesterday’s Tokyo rubber market far-month contract rose to above 190 yen under the impetus of funds in the morning. After that, the Shanghai market opened at a high profit and the trend was obvious. Under the pressure of short-term rallies and shorts, it fell back to the top Near weekend closing prices. The November China Caixin Manufacturing Purchasing Manager’s Prosperity Index announced at noon was unexpectedly higher than expected and above the Kurong line, which provided bullish material to the early market rubber market. However, due to the subtle development of Sino-U.S. Trade talks after President Trump signed the Hong Kong Bill of Rights, and on the 15th of this month the United States is planning to impose tariffs on US $ 165 billion in Chinese goods. With the departure of profit, the overall weak trend of the rubber market is obvious.
In the spot market, the December FOB price of tobacco on December 3 was around THB 47.86, down by THB 0.32 from the previous trading day. The December FOB price of No. 20 standard rubber is around 43.52 baht, which is 0.65 baht higher than the previous trading day. The USS spot price was around THB 39.43, an increase of THB 0.14 from the previous trading day.
From a technical point of view, after the RSS far-month contract fell to the 186 yen line of the short-term conversion line in the previous trading day, there was a self-disciplined rebound yesterday. In addition, the long-term price of the far month stood at the 190 yen integer level supported by Chinese economic data. However, from the perspective of position changes, the overall position is lightened, and the price has not been able to break through the previous high, and the short-term correction trend is more obvious. The medium-term baseline has reached above the 180 yen line with successive price increases, and the conversion line will tend to the level around 188 yen in the second half of the week. Short selling pressure is heavier.
At the close of Tokyo on December 2, the spread between the 2005 and Shanghai 2005 contracts (Tokyo-Shanghai) was -35 USD / ton.