Wednesday, July 5, 2017

Tokyo futures hit 1-week low after oil prices tumble

TOKYO, July 6 (Reuters) - Benchmark TOCOM rubber futures fell more than 1 percent to a one-week low on Thursday after an overnight tumble in global oil prices.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for December delivery had dropped 3.5 yen to 194 yen ($1.72) per kg by 0057 GMT. It earlier touched its lowest since June 27 at 193.5 yen.
* For the top stories in the rubber market and other news, click or
MARKET NEWS
* U.S. oil prices dropped about 4 percent on Wednesday, although they had started to pick up on Thursday.
* The U.S. dollar was quoted around 113.27 yen, compared with about 113 yen on Wednesday afternoon.
* Japan's benchmark Nikkei stock average was down 0.4 percent.
* Copper prices eased for a fourth straight session on Wednesday on a surge in warehouse stocks, but the threat of strike action at two Chilean mines curbed losses.

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