Tokyo Commodity Exchange (TOCOM) rubber (13825, -195.00, -1.39%) futures on Friday (May 9) lower this week, is expected to record its biggest weekly decline in five weeks, as the world’s largest rubber exporter Thai government decided to sell the national rubber stocks weighed on market sentiment of glue.
TOCOM rubber futures contract prices in October fell 0.9 yen on Friday, at 198.4 yen / kg (0015GMT), the contract is expected to fall 4.3 percent this week.
TOCOM rubber futures contract prices in October rose 2.1 yen on Thursday.
Chinese customs data released Thursday showed that Chinese imports and exports rebounded slightly in April due to increased orders from the U.S. and the EU, which is the first positive sign in the Chinese economy since the beginning of 2014 after the market’s continued weakness.
Thai Prime Minister Yingluck Thursday to step down, which may also lead to a further deterioration of the political situation in the country.
The Thai government on Wednesday the government decided to sell tons of rubber stocks, hoping to ease the rubber farmers increasingly strong sentiments against it, but the move could be down to the low price of rubber more than four years since.
Asian city early Friday, USDJPY traded at 101.62, almost flat.
The Nikkei 225 index was steady on Friday, while the Standard & Poor’s 500 index and Nasdaq [microblogging] index fell Thursday.
U.S. crude oil futures prices fell Thursday, in addition, the United States Brent crude oil futures prices also fell as traders wait and see the developments in Ukraine.
As Beijing May 9 10:51 AM, Tokyo Rubber reported 197.5 yen / kg, down 0.9%.
Translated by Google Translator from http://news.cria.org.cn/4/20633.html
