TOKYO, July 16 (Reuters) – Benchmark Tokyo rubber futures extended last week’s fall early on Tuesday on signs of slowing growth in Asia.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery was trading down 2 percent at 233.7 yen per kg as of 0027 GMT. Trading was closed on Monday for a national holiday. The contract fell 2.7 percent last week.
* Tuesday is the clearing date for the December contract.
* The Asian Development Bank on Tuesday lowered its growth forecasts for developing Asia this year and the next as a softer outlook for China suggests subdued economic activity elsewhere in the region.
* The annual GDP growth in China, the world’s top rubber buyer, slowed to 7.5 percent in April-June, data showed on Monday.
TOCOM Rubber Futures Price on Tuesday, July 16, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jul 2013 |
232.8 |
229.3 |
231.3 |
228.4 |
228.9 |
-3.9 |
202 |
|
Aug 2013 |
237.2 |
233.1 |
233.9 |
230.5 |
230.5 |
-6.7 |
46 |
|
Sep 2013 |
236.6 |
233.8 |
235.1 |
231.3 |
231.3 |
-5.3 |
37 |
|
Oct 2013 |
237.7 |
235.8 |
235.8 |
232.4 |
232.4 |
-5.3 |
53 |
|
Nov 2013 |
238.1 |
236.4 |
236.8 |
232.0 |
234.0 |
-4.1 |
465 |
|
Dec 2013 |
238.4 |
236.2 |
237.3 |
232.1 |
234.7 |
-3.7 |
4,984 |
|
Total |
|
5,787 |
|||||
MARKET NEWS
* The yen was quoted around 99.89 to the dollar in early Asian trade on Tuesday, weaker than Monday, when the yen fell after traders said last week’s greenback selloff was overdone.
* The Nikkei stock average ticked up 0.7 percent, as gains in Asian and U.S. equities supported and the weaker yen boosted exporters by making the value of their products higher overseas.
* The 19-commodity Thomson Reuters-Jefferies CRB index was little changed on Monday, after oil edged up, gold prices were flat and copper dropped.
DATA EVENTS
* The following data is expected on Tuesday: (Time in GMT)
0900 Euro zone Eurostat trade
0900 Germany ZEW economic sentiment
1145 U.S. ICSC weekly chain store sales
1230 U.S. CPI
1255 U.S. Redbook weekly retail sales
1315 U.S. Industrial output
1400 U.S. NAHB housing market index
2030 U.S. API weekly crude stocks
(Reporting by James Topham; Editing by Joseph Radford)
Source: Reuters
