TOKYO—The Tokyo Commodity Exchange has issued a summary of trading activities for December 2014.
Average daily trading volume for the month was 109,689 contracts, down 17.5 percent from November. On a year-on-year basis, however, it was up 39.7 percent.
Some of TOCOM’s leading commodities saw increases in volume including rubber, which was up 8.6 percent to 10,572 contracts. The commodity index for rubber was also higher—up 5.7 percent on the previous month.
Crude oil trading, meanwhile, rose 30.9 percent to 7,322 contracts and others such as gold—the Exchange’s most traded commodity—decreased 35.6 percent to 43,671 contracts and pushed down overall trading volume.
TOCOM Crude Oil traders remained bearish throughout the month on persistent fears of oversupply. IEA and OPEC reports were issued forecasting increased supply and slowing demand in 2015, which drove prices lower.
Crude oil fell to $357.2 per kilolitre on Dec. 17, the lowest in more than four years. There were some short-lived rallies on strong US economic indicators.
– Rubber News
