TOKYO:* Tokyo Commodity Exchange (TOCOM) futures fell for the fourth session on Friday to hit a more than 3-month low, amid concerns about oversupply and softer demand in top buyer China, while posting their biggest weekly drop since March 2018.
* The benchmark TOCOM rubber contract for December delivery
finished 1.1 yen, or 0.6%, lower at 181.6 yen ($1.68) per kg, after hitting its lowest since March 29 of 180.3 yen earlier in the session.
* For the week, it fell 6.2%, marking the biggest loss since March 2018 and a fourth straight weekly loss.
* "Slumping physical prices in Thailand amid rising supplies, fears over weakening demand in China and stop-loss selling were behind steep slide this week," said Jiong Gu, an analyst at Yutaka Shoji Co.
* "Without any specific outcome from U.S.-Sino trade talks, the TOCOM may remain under pressure next week," he said.
* The most-active rubber contract on the Shanghai futures exchange for September delivery rose 85 yuan to finish at 11,310 yuan ($1,644) per tonne.
* The U.S. dollar was quoted around 108.02 yen, compared with around 107.80 yen on Thursday afternoon
* Crude oil prices fell on Friday on weak economic indicators from the United States and Germany, shrugging off tensions around Iran and this week's decision by OPEC and its allies to extend a supply cut deal until next year.
* Japan's benchmark Nikkei stock average edged higher in choppy trade on Friday as investors kept to the sidelines before the release of a key U.S. jobs report, while oil and mining shares underperformed after oil prices fell on global growth concerns.
* TOCOM's technically specified rubber (TSR) 20 futures contract for January delivery closed up 0.2 yen at 151.6 yen per kg
* The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 145.1 U.S. cents per kg, up 0.7%.
Comments
Comments are closed for this article.