TOKYO, Aug 15 (Reuters) – Benchmark TOCOM rubber futures were mostly steady on Thursday, with the yen trading against the dollar in a tight range and many Japan-based market players away for the Obon summer holidays.
FUNDAMENTALS
* The key Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery was down 0.4 yen at 265.5 yen per kg at 0034 GMT, after settling 0.9 yen higher on Wednesday.
* The yen was quoted around 97.95 yen to the dollar in early Asian trade, with the dollar at a standstill, hamstrung by uncertainty on when the Federal Reserve might start trimming its stimulus.
* Top rubber consumer China bought some physical cargoes of tyre rubber grades for nearby delivery to replenish stocks, dealers said late on Wednesday, raising hopes of more purchases going ahead as the country’s economic outlook improves.
TOCOM Rubber Futures Price on Thursday, August 15, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Aug 2013 |
261.1 |
259.5 |
260.8 |
257.4 |
260.4 |
-0.7 |
24 |
|
Sep 2013 |
262.8 |
262.6 |
264.1 |
260.7 |
263.4 |
+0.6 |
18 |
|
Oct 2013 |
263.1 |
261.8 |
264.2 |
260.8 |
264.2 |
+1.1 |
10 |
|
Nov 2013 |
263.0 |
261.8 |
263.0 |
260.7 |
263.0 |
+0.0 |
73 |
|
Dec 2013 |
264.3 |
263.5 |
266.0 |
262.1 |
264.0 |
-0.3 |
280 |
|
Jan 2014 |
265.9 |
264.1 |
267.4 |
263.1 |
265.7 |
-0.2 |
1,571 |
|
Total |
|
1,976 |
|||||
MARKET NEWS
* Japan’s benchmark Nikkei stock average fell 1.3 percent in early Thursday trade, after overnight weakness in Wall Street soured the mood, while the summer lull is expected to limit trading.
* The 19-commodity Thomson Reuters-Jefferies CRB index rose 0.7 percent on Wednesday as signs of tame inflation boosted precious metals, strong Chinese data lifted industrial metals and supply disruptions fears supported oil.
DATA EVENTS
* The following data is expected on Thursday: (Time in GMT)
– 0830 U.K. Retail Sales for July
– 1215 U.S. St. Louis Federal Reserve President Speaks
– 1230 U.S. U.S. CPI/CORE CPI for July
– 1230 U.S. Real Earnings for July
– 1230 U.S. Weekly Jobless Claims
– 1315 U.S. Industrial Production and Cap Use for July
– 1400 U.S. Home Builders Index for August
(Reporting by James Topham; Editing by Richard Pullin)
Source: Reuters
