TOKYO, Dec 10 (Reuters) – Key TOCOM rubber futures edged higher early on Monday after weekend data showed a pickup in China’s factory output and retail sales, but uncertainty about budget wrangling in the United States kept a lid on gains.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for May delivery was up 0.8 yen, or 0.3 percent, at 264.4 yen per kg as of 0040 GMT.
* A pickup in China’s factory output and retail sales growth to eight-month highs suggested a revival in the world’s second-biggest economy is deepening and boosted the chances for stronger-than-expected export figures on Monday.
* A better-than-exected U.S. jobs report, defying predictions that superstorm Sandy would deal a big blow to the labour market, brought about only a brief rally in most commodities markets on Friday.
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
Settlement |
|
Dec 2012 |
250.9 |
248.9 |
253.5 |
248.9 |
253.5 |
+2.6 |
31 |
– |
|
Jan 2013 |
252.0 |
252.5 |
253.5 |
252.5 |
253.5 |
+1.5 |
4 |
– |
|
Feb 2013 |
254.4 |
254.5 |
257.5 |
254.3 |
257.5 |
+3.1 |
23 |
– |
|
Mar 2013 |
258.2 |
257.9 |
262.3 |
257.9 |
262.3 |
+4.1 |
76 |
– |
|
Apr 2013 |
260.8 |
261.2 |
265.3 |
260.7 |
265.1 |
+4.3 |
221 |
– |
|
May 2013 |
263.6 |
263.3 |
268.0 |
263.0 |
267.7 |
+4.1 |
1,355 |
– |
|
Total |
|
1,710 |
|
|||||
|
Trade Date: Dec 10, 2012 Prices in yen / kilogram |
||||||||
MARKET NEWS
* Japan’s benchmark Nikkei average opened slightly higher on Monday, after the better-than-expected U.S. jobs report, although a sharp drop in U.S. consumer confidence capped gains.
* U.S. crude futures slipped in choppy trading on Friday.
DATA EVENTS
* The following data is expected on Monday:
– China trade data Nov
– China commodity imports Nov
– 0700 Germany trade data Oct
– 0745 France industrial output Oct
– 0930 Euro zone Sentix index Dec
– 1500 U.S. employment trend index Nov
(Reporting by Yuko Inoue; Editing by Edmund Klamann)
Source: Reuters
