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Sunday, October 24, 2021

Tokyo rubber futures steady, upside capped by strong yen

TOKYO, Sept 27 (Reuters) – Benchmark TOCOM rubber futures stood little changed on Tuesday, with a strong yen dragging on prices.

FUNDAMENTALS

The Tokyo Commodity Exchange’s new benchmark rubber contract for March delivery JRUc6 0#2JRU: started trading on Tuesday and by 0104 GMT stood at 165.1 yen, compared with the open price of 165 yen.

Thailand’s ND Rubber Pcl NDRm.BK said its board decided to establish a joint venture to manufacture car tyres and truck tyres.

MARKET NEWS

The U.S. dollar was quoted around 100.37 yen JPY= , compared with around 100.63 yen on Tuesday. USD/

Japan’s benchmark Nikkei stock average .N225 was down 1.4 percent. MKTS/GLOB

Oil prices pared Monday’s 3-percent gains on Tuesday as the world’s largest producers gathered in Algeria to discuss ways to support prices.

DATA/EVENTS (GMT)

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

0600 Germany Import prices Aug

1300 U.S. S&P/Case-Shiller housing index Jul

1345 U.S. Markit services PMI flash Sep

1400 U.S. Consumer confidence Sep

(Reporting by Osamu Tsukimori; Editing by Joseph Radford)

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