TOKYO: Tocom rubber futures edged higher early on Monday after weekend data showed a pick-up in China’s factory output and retail sales, but uncertainty about budget wrangling in the United States kept a lid on gains.
The key Tokyo Commodity Exchange rubber contract for May delivery was up 4.1 at 267.7 yen per kg as of 15.00 JST.
A pick up 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 expected U.S. jobs report, defying predictions that super storm Sandy would deal a big blow to the labour market, brought about only a brief rally in most commodities markets on Friday.
Source: Rubber Country
