TOKYO, July 4 (Reuters) – Benchmark Tokyo rubber futures slipped on Thursday, continuing a slide from the previous day when investors took profits after prices hit a three-week high.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery was trading down 0.2 percent at 244.4 yen per kg as of 0030 GMT.
* The contract hit a three-week intraday trading high of 249 yen on Wednesday, before falling to settle the day at 245 yen.
* In trade for physical Asia rubber cargoes, prices were at their lowest since 2009, with only a few Indonesian and Malaysian cargoes changing hands and as tyre makers in top consumer China shifted to warehouse supplies.
* U.S. private employers lifted hiring in June and new applications for unemployment benefits fell for a second straight week last week, signalling a steadily improving labour market picture.
TOCOM Rubber Futures Prices on Thursday, July 04, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jul 2013 |
239.6 |
237.8 |
240.0 |
235.0 |
239.0 |
-0.6 |
41 |
|
Aug 2013 |
240.0 |
237.0 |
239.7 |
235.5 |
239.7 |
-0.3 |
32 |
|
Sep 2013 |
241.2 |
239.3 |
240.7 |
236.2 |
240.7 |
-0.5 |
40 |
|
Oct 2013 |
242.8 |
240.0 |
242.8 |
237.8 |
241.9 |
-0.9 |
43 |
|
Nov 2013 |
243.8 |
241.0 |
244.0 |
238.9 |
242.9 |
-0.9 |
515 |
|
Dec 2013 |
245.0 |
242.0 |
244.8 |
239.7 |
243.9 |
-1.1 |
3,270 |
|
Total |
|
3,941 |
|||||
MARKET NEWS
* The yen was steady against the U.S. dollar in early trade on Thursday, with U.S. investors set to have the day off for a national holiday.
* The Nikkei stock average stayed near the 14,000-mark on Thursday as more signs showed U.S. economic recovery is gathering pace, but worries over political turmoil in Egypt and Portugal are keeping buyers cautious.
* U.S. commodities futures prices rose on Wednesday as crude oil topped $100 a barrel on concerns about Egyptian unrest and tight supplies, while grains and precious metals got support from a weakened U.S. dollar.
DATA EVENTS
* The following data is expected on Thursday: (Time in GMT)
DATA/EVENTS (GMT)
1100 Britain BOE bank rate
1145 Euro zone ECB refinancing rate
1230 ECB President Mario Draghi holds news conference
after policy meeting (Reporting by James Topham; Editing by Ed Davies)
Source: Reuters
