TOKYO, Jan 24 (Reuters) – Key TOCOM rubber futures were almost flat early on Thursday as traders stayed on the sidelines ahead of manufacturing data from China and the expiration on Friday of the front-month contract.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for June delivery was up 0.1 percent, or 0.2 yen, at 308.5 yen per kg as of 0050GMT.
* Japan logged a record annual trade deficit in 2012 as exports continued to slide in December, in a worrying signal that the effects of a weaker yen and the new government’s moves to boost the economy with fiscal and monetary stimulus have been slow in coming.
* HSBC’s flash report due out at 0145 GMT is expected to show the reading on China’s manufacturing sector surpassing December’s 51.5, a positive for commodity prices.
TOCOM Rubber Prices on January 24, 2013( yen / kilogram )
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jan 2013 |
292.5 |
291.4 |
293.6 |
288.7 |
289.0 |
-3.5 |
17 |
|
Feb 2013 |
294.5 |
295.5 |
295.5 |
293.5 |
293.5 |
-1.0 |
8 |
|
Mar 2013 |
297.3 |
299.0 |
299.0 |
295.3 |
296.0 |
-1.3 |
104 |
|
Apr 2013 |
301.0 |
301.2 |
302.6 |
299.4 |
301.3 |
+0.3 |
89 |
|
May 2013 |
304.7 |
305.0 |
306.7 |
303.0 |
304.9 |
+0.2 |
492 |
|
Jun 2013 |
308.3 |
309.0 |
310.1 |
306.1 |
308.1 |
-0.2 |
4,479 |
|
Total |
|
5,189 |
|||||
MARKET NEWS
* The Japanese yen fell to 88.58 yen from a one-week high of 88.06. On Monday, the Japanese unit fell to a 2-1/2 year high of 90.25.
* The Nikkei slipped 0.3 percent after Apple announced disappointing sales figures for the smartphone.
* U.S. crude oil futures fell $1.45 to settle at $95.23 a barrel on Wednesday, weighed down by news the Seaway crude oil pipeline connecting the Midwest to the Gulf Coast had cut throughput.
DATA EVENTS
* The following data is expected on Thursday:
– 0145 China HSBC Manufacturing Flash PMI
– 0758 France Markit Manufacturing Flash PMI
– 0828 Germany Markit Manufacturing Flash PMI
– 0858 Euro zone Markit Manufacturing Flash PMI
– 0900 Euro Zone Current account
– 1330 U.S. Weekly jobless claims
– 1358 U.S. Markit Manufacturing Flash PMI
– 1500 U.S. Leading indicators
– 1600 U.S. EIA weekly petroleum report
(Reporting by Yuko Inoue; Editing by Muralikumar Anantharaman)
Reuters
