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Tokyo rubber futures fall to one-week low as yen firms (Mar. 13)

TOKYO, March 13 (Reuters) – Key TOCOM rubber futures fell to a one-week low on Wednesday, down for a second straight day as a pause in yen weakness and softer Chinese equity markets encouraged investors to lock in profits.

FUNDAMENTALS

* The key Tokyo Commodity Exchange rubber contract for August delivery <0#2JRU:> traded 1.9 percent lower at 287.1 yen per kg as of 0023 GMT.

* The benchmark contract earlier fell as low as 284.8 yen, its lowest since March 5. On Monday, it hit its highest in more than two weeks of 303.3 yen on the back of a weaker yen.

* The dollar traded at 95.95 yen in early Asian trade on Wednesday.

TOCOM Rubber Futures Prices on March 13, 2013 ( yen / kilogram  ) 

Month

Last Settlement Price

Open

High

Low

Current

Change

Volume

Mar 2013

277.0

273.1

273.1

266.6

266.6

-10.4

61

Apr 2013

279.0

274.0

274.5

269.3

269.3

-9.7

93

May 2013

283.0

281.5

281.5

273.4

273.4

-9.6

185

Jun 2013

286.9

283.0

283.0

276.9

277.2

-9.7

215

Jul 2013

289.9

286.3

286.4

279.9

279.9

-10.0

650

Aug 2013

292.5

289.2

289.4

282.5

283.1

-9.4

10,897

Total

 

12,101

MARKET NEWS

* Japan’s Nikkei share average fell at the open on Wednesday as investors took profits on recent gains in exporter stocks after the yen rose off a 3-1/2 year low against the dollar.

* China shares fell for a fourth straight day on Tuesday, led by mid-sized banks after the official media reported that the country’s banking regulator has launched a nationwide probe of wealth management products.

* Brent crude prices fell a third straight session in choppy trading on Tuesday, while U.S. oil posted a fourth consecutive gain, tightening the spread between the two contracts to the narrowest since January.

DATA EVENTS

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

1000 Euro zone Industrial production

1230 U.S. Import/export prices

1230 U.S. Retail sales

1400 U.S. Business inventories

1430 U.S. EIA petroleum status report

1800 U.S. Federal budget

(Reporting by Risa Maeda; Editing by Edwina Gibbs)

Source: Reuters

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