TOCOM steady, in line with Shanghai futures

Benchmark TOCOM rubber futures held steady in early trade on Thursday, in line with Shanghai futures overnight.

FUNDAMENTALS

* The new key Tokyo Commodity Exchange rubber contract for April delivery debuted on Thursday morning with an open price of 199.8 yen. That was up from the previous benchmark contract for March delivery that settled at 199.5 yen on Wednesday.

* Key Shanghai futures ended overnight trading down 0.1 percent.

* A concept car covered by a soft, next-generation rubber that can absorb the impact of a collision has raised eyebrows at the Tokyo Motor Show.

MARKET NEWS

* U.S. oil prices slipped on Wednesday after a surprising increase in U.S. crude inventories, while U.S. gasoline futures rallied 1 percent on a sharp falloff in inventories.

* The U.S. dollar was quoted around 113.60 yen, compared with around 113.77 yen on Wednesday afternoon.

* Japan's benchmark Nikkei stock average was down 0.1 percent.

* Copper steadied on Wednesday after two days of gains as stock markets slid after a series of record highs, pointing to a more cautious mood among investors. But a retreat in the dollar lifted the broader metals sector.