Monday, June 5, 2017

TOCOM falls 1 pct on weak oil price overnight

TOKYO, June 6 (Reuters) - Benchmark TOCOM rubber futures fell more than 1 percent on Tuesday, tracking an overnight decline in oil prices amid worries that a rift between Qatar and Saudi Arabia could hamper a global deal to reduce oil production.

FUNDAMENTALS

* The Tokyo Commodity Exchange rubber contract for November delivery fell 3.2 yen to 188.3 yen ($1.71) per kg by 0001 GMT, marking a sixth straight day of declines.
* The index is near a seven-month low hit on Monday amid concerns about oversupply.
* For the top stories in the rubber market and other news, click or
MARKET NEWS
* Oil prices fell nearly 1 percent on Monday.
* The U.S. dollar was quoted around 110.37 yen, compared with around 110.57 yen on Monday afternoon.
* Japan's benchmark Nikkei stock average was down 0.2 percent.
* Copper fell on Monday, extending last month's losses, as the dollar recovered and investors eyed an increase in Shanghai inventories, while zinc tracked renewed weakness in steel markets.

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