TOKYO, Aug 19 (Reuters) – Benchmark TOCOM rubber futures inched higher on Monday, helped by the yen slipping against the U.S. dollar, but gains were limited after prices have risen nearly 8 percent over two weeks.
FUNDAMENTALS
* The key Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery was up 0.1 yen, or 0.04 percent, at 267.4 yen per kg at 0040 GMT. It settled 2.7 yen higher on Friday, marking a 2.3 percent weekly gain.
* The yen stood around 97.75 yen to the U.S. dollar in Asian trade on Monday, compared to 97.5 yen late on Friday. A weaker yen makes rubber cheaper for holders of other currencies.
* U.S. consumers, bracing for higher interest rates and slightly slower economic growth, were a bit less optimistic in August as sentiment retreated from last month’s six-year high, a survey released on Friday showed.
* Japanese exports rose 12.2 percent in July from a year earlier, Ministry of Finance data showed on Monday, supported by a weaker yen and a recovery in overseas economies. The rise in exports compared with the median estimate for a 13.1 percent increase in a Reuters poll of economists.
TOCOM Rubber Futures Price on Monday, August 19, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Aug 2013 |
258.5 |
258.8 |
258.8 |
258.8 |
258.8 |
+0.3 |
11 |
|
Sep 2013 |
261.2 |
261.9 |
261.9 |
261.9 |
261.9 |
+0.7 |
12 |
|
Oct 2013 |
261.8 |
261.8 |
263.5 |
261.7 |
261.7 |
-0.1 |
37 |
|
Nov 2013 |
263.0 |
264.2 |
264.2 |
263.0 |
263.4 |
+0.4 |
10 |
|
Dec 2013 |
265.1 |
263.7 |
266.8 |
263.0 |
265.0 |
-0.1 |
262 |
|
Jan 2014 |
267.3 |
266.3 |
268.7 |
264.7 |
266.9 |
-0.4 |
2,351 |
|
Total |
|
2,683 |
|||||
MARKET NEWS
* Tokyo’s Nikkei share average edged up in early trade on Monday after ending last week flat.
* Oil futures on both sides of the Atlantic ended higher for the sixth straight session on Friday, with Brent oil posting the biggest weekly percentage gain in six weeks as turmoil in Egypt and Libya stoked worries about oil supply security.
* Commodity prices traded mixed on Friday, with profit taking, favorable weather and currency pressures hitting grains, sugar, and coffee prices, but an improved demand outlook sent some industrial metals up nearly 2 percent.
(Reporting by Yuka Obayashi; Editing by Ed Davies)
Source: Reuters
