3.4 C
New York
Tuesday, January 25, 2022

Tokyo rubber futures fall 3 pct to 9-mth low as share prices slump (June 13)

TOKYO, June 13 (Reuters) – Benchmark Tokyo rubber futures fell 3 percent to a nine-month low on Thursday, dragged down by slumping stock prices and continued strength in the yen against the U.S. dollar.

FUNDAMENTALS

* The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery was trading down 2.96 percent at 233.0 yen per kg as of 0051 GMT.

* The contract sank as low as 232.4 yen, its lowest level since September 2012.

* The Shanghai Futures Exchange will resume trading on Thursday after closing on Monday to Wednesday for a holiday.

* The International Energy Agency said modest economic growth was limiting oil demand worldwide and some developed economies would have absolute declines in consumption this year.

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

Month

Last Settlement Price

Open

High

Low

Current

Change

Volume

Jun 2013

236.8

236.8

236.8

231.8

232.0

-4.8

18

Jul 2013

237.0

238.0

238.0

230.9

232.3

-4.7

49

Aug 2013

238.0

239.0

239.0

231.5

233.8

-4.2

188

Sep 2013

237.8

238.8

239.1

231.3

233.2

-4.6

570

Oct 2013

238.3

239.5

239.8

231.1

233.0

-5.3

754

Nov 2013

240.1

241.3

242.4

232.4

234.0

-6.1

4,067

Total

 

5,646

MARKET NEWS

* Japan’s Nikkei share average fell below 13,000 at the open on Thursday after U.S. stocks weakened on worries that the Federal Reserve may trim its stimulus programme, while a stronger yen hurt exporters.

* The U.S. dollar wallowed at a near four-month low against a basket of major currencies early in Asia on Thursday as investors cut bullish positions amid uncertainty over whether the Federal Reserve will pare back its stimulus programme.

* U.S. oil prices edged down on Thursday, reversing gains from the previous day, after an unexpected build-up in U.S. inventories and as the International Energy Agency said demand would remain sluggish.

DATA EVENTS

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

1230 U.S. Import prices USIMP=ECI

1230 U.S. Retail sales USRSL=ECI

1230 U.S. Jobless claims ECONUS

1400 U.S. Business inventories USBINV=ECI

1430 U.S. EIA natural gas stocks USOILN=ECI (Reporting by Yuka Obayashi; Editing by Aaron Sheldrick and Richard Pullin)

Source: Reuters

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,082FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles