ข่าวเด่น

@TOCOM rubber tumbles to 1-month low on Shanghai plunge(21/09/2560)

21 Sep 2017
36 times

TOKYO (Sept 19): Benchmark Tokyo rubber futures tumbled to a one-month low on Tuesday, dragged down by a continued slide in Shanghai futures which took a dive in the previous session when Japanese markets were closed for a public holiday. The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery finished 7.8 yen, or 3.5%, lower at 213.4 yen (US$1.91) per kg. It touched the lowest since Aug 16 of 212.3 yen earlier in the session. The most-active rubber contract on the Shanghai Futures Exchange for January delivery tumbled 385 yuan to finish at 14,960 yuan (US$2,274) per tonne. “Shanghai took a beating as rubber stocks were on the rise,” said Toshitaka Tazawa, analyst at Fujitomi Co. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 2.0% from the previous Friday, the exchange said on Friday. “The sharp drop in Shanghai market after hitting the recent high of 17,840 yuan has been weighing on the TOCOM,” Tazawa said, adding that Tokyo may further fall since its slide from the recent peak has not been as steep as that of Shanghai. The International Tripartite Rubber Council (ITRC), representing the world’s top natural rubber producers, did not decide to curb exports on Friday, but Thailand’s agriculture minister said the ITRC is closely monitoring rubber price trends and the measure remains an option. “The TOCOM did not react that much to the news as there was little expectation for any effective measures from the meeting to support rubber prices,” Tazawa said. The front-month rubber contract on Singapore’s SICOM exchange for October delivery last traded at 151.3 US cents per kg, down 3.6 cent. (US$1 = 111.5800 yen) (US$1 = 6.5800 Chinese yuan) Source: globalrubbermarket (19/09/2017)

Rate this item
(0 votes)