TOKYO, Dec 1 (Reuters) – Benchmark TOCOM rubber futures edged higher on Tuesday, helped by a firmer Tokyo stock market, but trade was thin as investors awaited China manufacturing data due later in the day.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for May delivery JRUc6 0#2JRU: rose 1.5 yen, or 0.9 percent, to 163.6 yen ($1.33) per kg by 0042 GMT, after booking its first monthly gain in six months. RUB/T

Activity in China’s manufacturing sector likely shrunk for the fourth month in November, a Reuters poll showed, which would underline persistent sluggishness in the world’s second-largest economy.

The IMF announced on Monday it had decided to include China’s yuan, or renminbi, in its benchmark currency basket, a move that should bolster the yuan’s political clout and standing as a global currency, analysts said. The world’s two biggest central banks are expected to move decisively in opposing directions this week, with the ECB almost certain to ease policy on Thursday and a U.S.jobs report likely to seal the case for a Fed rate hike in December.

MARKET NEWS

Japan’s benchmark Nikkei stock average (XC0009692440) was up 0.9 percent in Tuesday trade, after Wall Street ended lower ahead of a crucial payroll report Friday. The U.S. dollar was quoted at around 123.23 yen JPY= early on Tuesday.The dollar rose 2 percent against the yen in November.

Crude oil prices held at low levels in early trading in Asia on Tuesday as traders bet on continued high production from the Organization of the Petroleum Exporting Countries (OPEC) ahead of its meeting later this week.

Source: Reuters

TOKYO, Nov 2 (Reuters) – Benchmark Tokyo rubber futures inched down on Monday after slack economic data in China fuelled fears the economy of the world’s biggest rubber consumer may be still losing momentum in the fourth quarter despite a raft of stimulus measures. The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery JRUc6 0#2JRU: finished 0.6 yen, or 0.4 percent, lower at 159.7 yen ($1.32) per kg. It earlier fell to a low of 158.5 yen, nearing a 6-year low of 157.1 yen hit the previous week. China’s factory activity fell for an eighth straight month in October but at a slower pace as export orders revived, a private survey showed on Monday, pointing to further sluggishness in the world’s second-largest economy.

The Caixin figures followed Sunday’s official survey, which showed activity in China’s manufacturing sector unexpectedly contracted in October for a third straight month.

“The rubber market is really bearish,” said Kaname Gokon, strategist at Okato Shoji Co. “It’s hard to predict when and where the market will hit the bottom as the prices have been declining gradually for a long time, instead of plunging in a short term which could shock farmers and push them to cut productions,” he said.

The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, has lost about 36 percent since hitting this year’s high of 247.9 yen in early June. The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 rose 40 yuan to finish at 10,890 yuan ($1,718.45) per tonne. The front-month rubber contract on Singapore’s SICOM exchange for December delivery STFc1 last traded at 119.0 U.S. cents per kg, down 0.5 cent. TOCOM will be closed on Tuesday due to a national holiday in Japan.

($1 = 6.3371 Chinese yuan renminbi)

($1 = 120.5600 yen)

Source: Reuters

TOKYO, Oct 22 (Reuters) – Benchmark TOCOM rubber futures fell to a three-week low on Thursday, extending losses into fifth session, as persistent concerns over oversupply and slowing growth in top buyer China continued to weigh on the market sentiment.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for March delivery was trading down 1.0 yen, or 0.6 percent, at 165.5 yen ($1.38) per kg by 0057 GMT. It earlier fell as low as 164.4 yen, the lowest since Sept.30.

The European Central Bank (ECB) is likely to keep the door open for more monetary stimulus but stop short of taking new policy steps at a meeting on Thursday as it awaits fresh indications about the outlook for euro zone inflation.

General Motors Co (GM) reported record quarterly earnings for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues.

MARKET NEWS

Copper fell to near two-week lows on Wednesday, under pressure from fund selling as worries about oversupply and slowing demand growth in China weighed on sentiment.

Oil prices fell about 2 percent to three-week lows on Wednesday as the U.S.government reported a bigger build than expected in crude stockpiles, although significant drawdowns in gasoline and distillates prevented a steeper slide in crude futures.

The U.S. dollar was steady against the yen at 119.89 yen JPY= early on Thursday ahead of the ECB meeting later the day that could pave the way for an eventual extension of the bank’s quantitative easing steps. FRX/

Japan’s benchmark Nikkei stock average was steady in Thursday trade after a sharp fall in mainland Chinese shares rekindled worries about the health of China’s economy while investors awaited word from the ECB on its plans regarding additional stimulus.

Source: Reuters

TOKYO, Oct 21 (Reuters) – Benchmark TOCOM rubber futures bounced back on Wednesday as investors looked for bargains after three straight sessions of falls, but gains are likely to be capped by nerves over slowing demand growth in the top rubber buyer China.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for March delivery JRUc6 0#2JRU: rose 2.0 yen, or 1.2 percent, to 168.9 yen per kg by 0048 GMT, after falling to a 2-1/2-week low the previous day.

MARKET NEWS

The U.S. dollar was little changed against the yen at 119.80 yen JPY= after edging up 0.3 percent overnight in range-bound trading.

Japan’s benchmark Nikkei stock average (XC0009692440) was up 0.9 percent in Wednesday trade, after concerns about corporate earnings hobbled Wall Street the previous day while investors counted down to the European Central Bank’s policy meeting later in the week. MKTS/GLOB

Oil prices settled mixed on Tuesday, with New York-based futures down slightly, as market participants awaited the U.S.government’s inventory data amid a global oversupply that was pressuring prices.

Copper eased on Tuesday on worries over demand growth in

China, but short-covering supported as investors placed bets on another fiscal boost for the world’s top metals consumer.

Source: Reuters

TOKYO, Oct 20 (Reuters) – Benchmark TOCOM rubber futures fell for a third session to trade at a 2-1/2 week low on Tuesday, pressured by renewed worries about demand in China after data showing a slowdown in economic growth in the world’s top rubber buyer.

FUNDAMENTALS

The Tokyo Commodity Exchange rubber contract for March delivery JRUc6 0#2JRU: fell 1.6 yen, or 1.0 percent, to 167.1 yen per kg by 0040 GMT, after losing 2 percent the previous day. The contract earlier touched a low of 166.5 yen, the lowest since Oct.2.

China’s quarterly economic growth dipped below 7 percent for the first time since the global financial crisis, data showed on Monday, hurt partly by cooling investment, raising pressure on Beijing to further cut interest rates and take other measures to stoke activity.

MARKET NEWS

Crude oil fell about 4 percent on Monday after a tumble in gasoline futures added pressure to a market slumping on slower growth in China and signs that Iranian oil will return to the market soon following implementation of its nuclear deal. O/R

The U.S. dollar was quoted around 119.48 yen JPY= early on Tuesday, nearly unchanged from late U.S.trade, as investors pondered whether or not the Bank of Japan would take or signal further stimulus steps later this month to bolster the flagging economic recovery.

Japan’s benchmark Nikkei stock average was up 0.6 percent in Tuesday trade, after U.S.stocks ended with slight gains the previous day.

Source: Reuters