TOCOM falls as top rubber producers end exports curbs; Shanghai futures rise

Madiha Shakeel August 20, 2019

BEIJING:   * Tokyo Commodity Exchange (TOCOM) futures extended losses from early trade on Tuesday, as major producers end curbing exports

* The benchmark TOCOM rubber contract for January delivery

finished 1.9 yen ($0.0179) lower at 171 yen per kg

* The most-active rubber contract on the Shanghai futures exchange for January delivery rose 15 yuan  ($2.12) to finish at 11,565 yuan per tonne. China’s new technically specified rubber (TSR) 20 futures contract was last down 20 yuan at 9,975 yuan per tonne

* The world’s top producers of natural rubber have decided to end curbs on exports of the commodity

* Von Bundit Co. Ltd, top rubber manufacturer in Thailand, told Reuters on Monday that it was cutting output to be lean

* The U.S. dollar was quoted around 106.43 yen, compared with around 106.62 yen on Monday afternoon

* Crude oil prices edged up on Tuesday on optimism U.S.-China trade tensions will ease and on hopes major economies will take stimulus measures to ward off a potential economic slowdown that could hit oil demand

* Japan’s benchmark Nikkei stock average was up 0.55%

* TOCOM’s TSR 20 futures contract for February delivery

closed at 145.4 yen per kg

* The front-month rubber contract on Singapore’s SICOM exchange for September delivery last traded at 130.7 U.S. cents per kg, down 0.5%

Copyright Reuters, 2019

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