Tokyo Commodity Exchange (TOCOM) rubber (14495, 220.00, 1.54%) futures on Tuesday (May 20) lower, while the previous trading day up more than 4%, helped by stocks, but the market put on the Chinese economy ease worries increase the limit of rubber prices rose.
TOCOM rubber futures contract prices in October fell 0.3 yen on Tuesday, at 206.2 yen / kg (0001GMT).
TOCOM rubber futures contract benchmark price rose more than 4 percent on Monday, the Shanghai Futures Exchange rubber futures prices rose 5%, due to the exchange of rubber stocks fell to the lowest level since December 2013. Meanwhile, TOCOM rubber futures prices this year has dropped by 25% month amid fears of China’s economic growth increased.
An industry official said on Monday at the end of the interview, the world’s largest rubber producer Thailand rubber production in 2014 is expected to grow by 5%, due to increased acreage of rubber and mature, but the increase in demand for rubber or push up the price of rubber.
Thai Rubber Association (TRA) Secretary-General, Thailand’s rubber production this year will grow by 3-5%.
Industry officials said the El Nino phenomenon caused by inclement weather may cause the world’s second rubber producing countries of Indonesia’s rubber production declined about 3% of its production is about 30 million tons this year.
Indonesian Rubber Association (IRA) on Monday while attending consultant Rubber Summit in Singapore, said Indonesia’s rubber production this year may decline by 10 million tons.
Shanghai Futures Exchange rubber inventories last week by 2.2%, the lowest level in 2013 since December, to 163,097 tons. However, stocks are expected to increase to about Qingdao Rubber 362,000 tons, 290,000 tons in January.
U.S. stocks rose on Monday, because of the Internet and biotechnology stocks pushing the Nasdaq Composite rose nearly 1%.
USDJPY 101.45 on Tuesday reported, approaching from the lowest level since early February 101.11 hit on Monday.
U.S. oil prices rose to a high of nearly a month since Monday, because the weak dollar boosted market sentiment to buy, but Libya’s crude oil production increased by limiting its price increases.
The Nikkei 225 index rose 0.54 percent on Tuesday.
As of May 20 Beijing time 10:20 am, Tokyo Rubber reported 205.4 yen / kg, down 0.53%.
Translated by Google Translator from http://news.cria.org.cn/4/20822.html
