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Tokyo rubber futures hold near 3-week high on firm oil price (June 19)

TOKYO, June 19 (Reuters) – Key TOCOM rubber futures weresteady on Thursday, holding near a three-week high after risingfor three out of the previous four sessions, as firm oil pricessupported prices.

FUNDAMENTALS

* The key Tokyo Commodity Exchange rubber contract forNovember delivery was trading 0.1 yen lower at205.2 yen as of 0007 GMT.

It had earlier hit a high of 205.5 yen, the same intradaypeak as Wednesday, which was the highest since May 28.

* Against the yen, the greenback dipped to 101.85 from a one-week high of 102.38.

* Singapore-listed rubber firm Halcyon Agri Corp Ltd is in talks to buy rubber processing plants inIndonesia from Lee Rubber for S$400 million to S$500 million($320 million -$400 million), three people familiar with thematter said on Wednesday.

TOCOM Rubber Futures Prices on Thursday, June 19, 2014 (yen/kilogram)

Month Last Settlement Price Open High Low Current Change Volume
Jun 2014 196.7 193.8 201.0 193.8 201.0 +4.3 102
Jul 2014 199.4 198.2 202.8 197.9 201.6 +2.2 86
Aug 2014 200.0 199.4 204.6 198.9 202.7 +2.7 413
Sep 2014 201.6 201.5 207.2 200.6 206.0 +4.4 1,203
Oct 2014 203.6 203.8 209.7 202.3 207.9 +4.3 2,790
Nov 2014 205.3 205.2 211.9 204.1 210.2 +4.9 11,903
Total   16,497

MARKET NEWS

* U.S. stocks rose on Wednesday, with the S&P 500 ending ata record after the Federal Reserve hinted at a slightly fasterpace of interest-rate increases starting next year but suggestedrates in the long run would be lower than it had indicatedpreviously.

* The U.S. dollar wallowed at its lowest in nearly two weeksagainst a basket of major currencies early on Thursday, havingbeat a hasty retreat after the Federal Reserve signalled thatinterest rates will stay low for a while yet.

* Brent crude rose to a nine-month high on Wednesday asinvestors worried about exports from Iraq, while U.S. crudedipped after government numbers showed domestic crudeinventories fell much less than an industry group had reported.

* Japan’s Nikkei share average extended gains on Thursday.

DATA EVENTS

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

– 1230 U.S. Weekly jobless claims

– 1400 U.S. Leading index May

– 1400 U.S. Philly Fed business index June (Reporting by Osamu Tsukimori; Editing by Ed Davies)

– Reuters

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