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Monday, August 15, 2022

TOCOM rubber futures rose 14 October, due to strong Chinese trade data

Tokyo Commodity Exchange (TOCOM) rubber (12540, -70.00, -0.56%) futures prices on Tuesday (October 14) rose as the world’s biggest rubber buyer relatively strong Chinese economic data, while the message is displayed first in the world a large rubber producing countries Thailand rubber production is likely to decline this year, it also provides support for a period of rubber prices upward.

TOCOM rubber futures contract prices in March rose 3.8 yen on Tuesday, at 182.5 yen / kg (0010GMT).

TOCOM Monday due to public holidays in Japan closed for one day, while its price fell 3.6 yen last Friday.

A senior official of the Thai Rubber Association said Monday, Thailand’s rubber production may drop 10 percent this year, compared with the predicted increase before.

Chinese September trade data unexpectedly for the better, or will reduce the possibility of the government to adopt a more aggressive policy, but the real estate market downturn also shows the government will take more measures to promote economic growth in China.

From 2015 the Malaysian government plans to begin construction of the rubber oil line, a move aimed at increasing domestic demand and push the rubber rubber futures prices.

The Nikkei 225 index fell 1.9 percent on Tuesday, as the S & P 500 index on Monday recorded the largest three-day decline since 2011.

On Monday, the dollar fell against a basket of currencies, while the market is or will be delayed for the first time for the Fed to raise interest rates to increase due to market concerns on global economic growth worries continued.

U.S. Brent crude oil futures prices tumbled on Monday, fell more than 2 U.S. dollars / barrel, after hitting intraday low of 10 years, because of China’s major oil producers said that even if crude oil prices will depress its crude oil production will remain high.

As of October 14 morning Beijing time 9:34, Tokyo Rubber reported 183.8 yen / kg, up 2.85 percent.

Translated by Google Translator from http://market.cria.org.cn/20/23838.html

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