TOKYO, July 12 (Reuters) – Benchmark Tokyo rubber futures fell early on Friday, giving back some of the previous day’s more than 4 percent gains, after a stronger yen made the contract more expensive when purchased in other currencies.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery was trading down 1.1 percent at 242.4 yen per kg as of 0030 GMT, after surging on Thursday when gains across markets lifted the soft commodity.
* The U.S. dollar was quietly nursing its losses against several currencies, including the yen, on Friday as the smoke cleared after a couple of frenetic sessions.
* Production of natural rubber in India, the world’s fourth-biggest producer, fell almost 13 percent year-on-year in June to 54,000 tonnes, the government said on Thursday.
* India’s monsoon rains were 21 percent above average in the rubber growing state of Kerala for the week ending July 10, data from the country’s weather office showed on Thursday.
TOCOM Rubber Futures Price on Friday, July 12, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jul 2013 |
240.4 |
240.0 |
240.0 |
236.5 |
237.5 |
-2.9 |
33 |
|
Aug 2013 |
241.5 |
241.3 |
241.4 |
239.2 |
239.2 |
-2.3 |
11 |
|
Sep 2013 |
243.0 |
244.5 |
244.5 |
241.0 |
241.0 |
-2.0 |
39 |
|
Oct 2013 |
243.7 |
245.0 |
245.0 |
241.5 |
242.5 |
-1.2 |
32 |
|
Nov 2013 |
244.7 |
245.4 |
245.8 |
242.1 |
243.5 |
-1.2 |
149 |
|
Dec 2013 |
245.1 |
245.9 |
246.2 |
242.2 |
243.9 |
-1.2 |
2,104 |
|
Total |
|
2,368 |
|||||
MARKET NEWS
* The yen was quoted around 98.92 to the dollar in early Asian trade on Friday, weakening from a two-week high of 98.28 yen on Thursday.
* The Nikkei stock average was essentially unchanged early on Friday.
* The 19-commodity Thomson Reuters-Jefferies CRB index hit a three-week peak during trading on Thursday, before retreating on the drop in U.S. crude oil, its main component, to register a slight gain for the day.
DATA EVENTS
* The following data is expected on Friday: (Time in GMT)
0900 Euro zone Industrial production
1230 U.S. Producer prices
1355 U.S. Univ of Mich consumer sentiment (Reporting by James Topham; Editing by Joseph Radford)
Source: Reuters
