TOKYO, Jan 25 (Reuters) – Key TOCOM rubber climbed 1.3 percent on Friday to bounce back from four sessions of losses, boosted by a weaker yen.
But investors remained cautious due to swelling inventory in producer countries and ahead of the expiry of the front-month contract later in the day.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for June delivery <0#2JRU:> was up 2.8 yen, or 0.9 percent, at 310.1 yen per kg as of 0100 GMT.
* The yen fell to a 2-1/2-year low against the dollar in early Asian trading on Friday after data showed Japan remains entrenched in deflation, keeping pressure on the Bank of Japan to take more steps to meet its inflation target.
* The front-month January contract will expire on Friday, while the new benchmark July contract will debut on Monday.
TOCOM Rubber Futures Prices on January 25, 2013 ( yen / kilogram )
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jan 2013 |
290.1 |
290.1 |
290.1 |
290.1 |
290.1 |
+0.0 |
105 |
|
Feb 2013 |
293.5 |
293.5 |
295.2 |
293.3 |
295.0 |
+1.5 |
16 |
|
Mar 2013 |
296.6 |
295.0 |
300.3 |
295.0 |
298.9 |
+2.3 |
22 |
|
Apr 2013 |
300.7 |
301.2 |
304.7 |
300.7 |
302.9 |
+2.2 |
56 |
|
May 2013 |
304.1 |
303.2 |
308.1 |
302.5 |
305.8 |
+1.7 |
161 |
|
Jun 2013 |
307.3 |
306.7 |
311.4 |
305.6 |
309.7 |
+2.4 |
2,943 |
|
Total |
|
3,303 |
|||||
MARKET NEWS
* The yen plunged to as low as 90.695 against the dollar, while the Nikkei share average jumped 2 percent.
* U.S. crude futures were steady on Friday, on track for a seventh straight week of gains as signs of a recovering global economy brightened the outlook for fuel demand.
DATA EVENTS
* The following data is expected on Friday: 0900 Germany Ifo business climate 0930 UK Preliminary Q4 GDP 1500 U.S. New home sales
(Reporting by Yuko Inoue; Editing by Joseph Radford)
Source: Reuters
