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TOCOM rubber futures rose 9 June, helped by China Rubber inventory reduction

Tokyo Commodity Exchange (TOCOM) rubber (14240, 40.00, 0.28%) futures on Monday (June 9) rose as the world’s largest buyers of rubber to reduce China’s rubber stocks and Japanese stocks upward boost the atmosphere of the rubber market to buy .

TOCOM rubber futures contract prices in November rose 0.9 percent on Monday, at 193.9 yen / kg (0042GMT) on Friday closed 1.6 yen.

Chinese official on Sunday (June 8) released data show that China’s May exports increased global demand stabilized, but imports unexpectedly fell, indicating weak domestic demand in China, which may also continue to lead the Chinese economy under pressure.

Shanghai Futures Exchange said on Friday that the Exchange rubber inventories decreased by 1.8% compared with the previous week.

Indian National Rubber Board said on Friday that India’s natural rubber imports in May up 64%, to 34,419 tons, due to the global rubber prices down resulting in the Indian domestic rubber tire manufacturers to increase overseas purchases.

U.S. May employment index return to the previous historical high, which also indicates that the U.S. economy is gradually recovering.

Asian city early Monday, USDJPY traded at 102.57, due to better-than-expected U.S. jobs data boosted market sentiment.

Monday, the Nikkei 225 index rose 0.5%, due on Friday, U.S. stocks closed at record highs.

U.S. crude oil futures prices on Friday (June 6) rose as better-than-expected U.S. jobs data, and enhance market confidence in the U.S. economic recovery.

As at Beijing at 10:18 am on June 9, Tokyo Rubber reported 195.5 yen / kg, up 1.30 percent.

Translated by Google Translator from http://market.cria.org.cn/4/21180.html

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