TOKYO, Nov 18 (Reuters) – Benchmark TOCOM rubber futures dropped on Friday as they tracked declines in Shanghai futures, but losses were limited by a weaker yen.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for April delivery had fallen 2.1 yen to 211 yen per kg by 0124 GMT, after settling up 0.7 yen on Thursday. The contract on Thursday touched its highest since July 2015 at 217.1 yen.
The contract is up around 3 percent for the week.
The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 was down 250 yuan at 16,230 yuan per tonne.
MARKET NEWS
The U.S. dollar was quoted around 110.12 yen JPY= , compared with around 109.07 yen on Thursday afternoon.
Japan’s benchmark Nikkei stock average .N225 was up 0.9 percent. MKTS/GLOB
Copper rose on Thursday in volatile trade on speculative flows and against the backdrop of falling inventories for the metal used in construction and power.
Oil prices settled slightly lower on Thursday, then fell as much as 1 percent in the after-market session as a stronger dollar outweighed expectations of an OPEC deal to limit production. O/R
DATA/EVENTS (GMT)
The following data is expected on Friday: (Time in GMT)
0130 China House prices Oct
0700 Germany Producer prices Oct
0900 Euro zone Current account Sep
1500 U.S. Leading index Oct
(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
