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TOKYO, Oct 2 (Reuters) – Key Tokyo rubber futures fell for a fourth session on Wednesday, as the partial suspension of U.S. government operations dented appetite for riskier assets.
FUNDAMENTALS
The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for March delivery JRUc6 0#2JRU: was down 0.8 percent at 258.8 yen per kg by 0015 GMT – its lowest level since Aug. 21. It finished 1.8-percent lower on Tuesday. (Full Story)
The White House rejected a Republican plan to reopen portions of the U.S. government on Tuesday, a sign that the standoff over health care between the two sides could take some time to end. (Full Story)
U.S. consumer demand for new vehicles totaled 15.28 million vehicles in September, down considerably from 16.09 million autos in August, but close to what many analysts expected. (Full Story)
Crude rubber inventories at Japanese ports stood at 4,708 tonnes as of Sept. 20, ticking up from a three-year low in the previous release, industry data showed on Tuesday. (Full Story)
For the top stories in rubber market and other news, click TOP/MACRO RUB/T or COM/WRAP
MARKET NEWS
The U.S. dollar was quoted around 97.99 yen JPY= in Asia, up slightly from 98.73 yen overnight. FRX/
Japan’s benchmark Nikkei stock average .N225 gained 0.4 percent in early Wednesday trade.
The 19-commodity Thomson Reuters-Jefferies CRB index .TRJCRB closed down half a percentage point on Tuesday, after a number of commodities including gold, copper, crude oil, fell sharply following the U.S. government’s partial shutdown.
Source: Reuters