Monday, October 23, 2017

Tokyo futures inch lower in line with Shanghai

Benchmark TOCOM rubber futures extended declines to inch lower on Tuesday, in line with an overnight drop in Shanghai futures.

FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for March delivery was down 0.6 yen at 195.6 yen ($1.73) per kg, by 0009 GMT, staying about 1 percent above a three-month low of 193.5 yen hit a week ago.
* Key Shanghai futures ended overnight trading down 0.3 percent.
 * Oil prices were little changed on Monday as supply disruptions in Iraq dented exports by OPEC's second-largest producer and U.S. drilling rates showed a slowdown.
* The U.S. dollar was quoted around 113.41 yen , compared with around 113.79 yen on Monday afternoon.
* Japan's benchmark Nikkei stock average opened down 0.1 percent.
* Zinc prices rose on Monday after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals

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