Prices moved lower in trading today, Thursday (1/3/2018), amid concerns over rising Chinese and Japanese rubber reserves.
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), fell 0.21% or 0.40 points to 193.40 yen per kilogram (kg) at 11:37 pm.
Earlier, the price of August contract rubber opened down 0.21% at the same level, 193.40, after yesterday's trading closed stagnant at the level of 193.80 yen per kg.
Takaki Shigemoto, an analyst at JSC, said rubber prices on commodities were pressured by concerns that rubber stocks in Japan and China will continue to rise amid low demand.
Based on data from the Japan Rubber Association released today, Japan's raw rubber reserves increased 1.5% per February 10, 2018 to 14,956 metric tons.
Meanwhile, rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tonnes last week, rising in the 13th consecutive week.
On the other hand, today's yen exchange rate is observed to weaken 0.12% or 0.13 points to 106.81 position per US dollar at 11:54 pm.
Wednesday, February 28, 2018
Price Rubber Stagnant in 2nd Days
The price of rubber returned to stagnate on the second day of trading on Wednesday (28/2/2018), amid concerns about weakening demand.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed at 193.80 yen per kilogram (kg).
Earlier, the price of August contract rubber opened in the red zone with a weakening 0.1% or 0.20 points at 193.60 yen per kg level, after trading on Tuesday (27/2) stagnated at 193.80 yen per kg.
According to Korakod Kittipol, marketing manager of Thai Hua Rubber, rubber prices are getting support from concerns about limited supply in Thailand.
On the other hand, Kazuhiko Saito, an analyst at commodity brokerage firm Fujitomi, said China's slower-than-expected economic data had been a negative sentiment for rubber. This factor is feared will drag the demand level becomes more lethargic.
Based on data released today, the Purchasing Managers' Index (PMI) of the manufacturing sector in February 2018 reached 50.3. This figure is lower than forecast in a Bloomberg survey of 51.1.
Meanwhile, the yen appreciated 0.22% or 0.24 points to 107.09 per US dollar at 14.27 GMT, after opening stagnant at 107.33.
The yen appreciated after the Bank of Japan (BoJ) reduced its purchases of bonds for a tenor of more than 25 years by 10 billion yen in market operations today.
The WTI oil price of April 2018 contract was further weakened 0.41% or 0.26 points to US $ 62.75 per barrel at 14.18 Western Indonesia Time, after trading on Tuesday (27/2) ended down 1.41% at position 63, 01.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed at 193.80 yen per kilogram (kg).
Earlier, the price of August contract rubber opened in the red zone with a weakening 0.1% or 0.20 points at 193.60 yen per kg level, after trading on Tuesday (27/2) stagnated at 193.80 yen per kg.
According to Korakod Kittipol, marketing manager of Thai Hua Rubber, rubber prices are getting support from concerns about limited supply in Thailand.
On the other hand, Kazuhiko Saito, an analyst at commodity brokerage firm Fujitomi, said China's slower-than-expected economic data had been a negative sentiment for rubber. This factor is feared will drag the demand level becomes more lethargic.
Based on data released today, the Purchasing Managers' Index (PMI) of the manufacturing sector in February 2018 reached 50.3. This figure is lower than forecast in a Bloomberg survey of 51.1.
Meanwhile, the yen appreciated 0.22% or 0.24 points to 107.09 per US dollar at 14.27 GMT, after opening stagnant at 107.33.
The yen appreciated after the Bank of Japan (BoJ) reduced its purchases of bonds for a tenor of more than 25 years by 10 billion yen in market operations today.
The WTI oil price of April 2018 contract was further weakened 0.41% or 0.26 points to US $ 62.75 per barrel at 14.18 Western Indonesia Time, after trading on Tuesday (27/2) ended down 1.41% at position 63, 01.
Tuesday, February 27, 2018
Rubber Price Turned Up 0.21%
Rubber prices turned higher on trading today, Wednesday (28/2/2018),
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 0.21% or 0.40 points to 194.20 yen per kilogram (kg) at 11:10 pm.
Earlier, the price of the August rubber contract opened down 0.1 percent or 0.20 points to 193.60 yen per kg after yesterday's trade closed at a stagnant level of 193.80 yen per kg.
Korakod Kittipol, marketing manager of Thai Hua Rubber said rubber prices were buoyed by concerns about limited supply in Thailand.
Meanwhile, Kazuhiko Saito, an analyst at Fujitomi commodity brokerage, said weak Chinese economic data weighed on sentiment, raising concerns that demand will weaken.
Based on data released today, the Purchasing Managers' Index (PMI) of the manufacturing sector in February 2018 reached 50.3. This figure is lower than the estimate in a Bloomberg survey that reached 51.1.
Meanwhile, today's yen exchange rate is up 0.13% or 0.14 points to position 107.19 per US dollar at 12.00 WIB
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 0.21% or 0.40 points to 194.20 yen per kilogram (kg) at 11:10 pm.
Earlier, the price of the August rubber contract opened down 0.1 percent or 0.20 points to 193.60 yen per kg after yesterday's trade closed at a stagnant level of 193.80 yen per kg.
Korakod Kittipol, marketing manager of Thai Hua Rubber said rubber prices were buoyed by concerns about limited supply in Thailand.
Meanwhile, Kazuhiko Saito, an analyst at Fujitomi commodity brokerage, said weak Chinese economic data weighed on sentiment, raising concerns that demand will weaken.
Based on data released today, the Purchasing Managers' Index (PMI) of the manufacturing sector in February 2018 reached 50.3. This figure is lower than the estimate in a Bloomberg survey that reached 51.1.
Meanwhile, today's yen exchange rate is up 0.13% or 0.14 points to position 107.19 per US dollar at 12.00 WIB
August Contract Rubber Price Ends Stagnant
Movement of rubber price only ended stagnant in trading today, Tuesday (27/2/2018), weighed by sentiment of commodity stock increase.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed at 193.80 yen per kilogram (kg).
Earlier, the price of the August rubber contract opened up 0.36% or 0.70 points at 194.50 yen per kg, after trading Monday (26/2) closed up 2.76% or 5.2 points.
According to Gu Jiong, an analyst with commodity broker Yutaka Shoji in Tokyo, high rubber stocks in China weighed on the price of this commodity.
The rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tonnes last week. This is an increase for 13 weeks in a row.
Also weighing on rubber, the yen appreciated 0.07% or 0.08 points to 106.86 per US dollar at 14.17 pm, having opened with a thin 0.01% appreciation at 106.93.
Meanwhile, the price of WTI oil in April 2018 contract slipped into the red zone with a decline of 0.05% or 0.03 point to US $ 63.88 per barrel at 14.10 WIB, after on Monday (26/2) ended up 0, 57% at position 63.91.
On the other hand, the Japanese stock market rally continued at the end of the third day of trading in a row, following the rally of US stock market (US).
The Nikkei 225 index today ended up 1.07% or 236.23 points at 22,389.86, after opening with an increase of 238.04 points at 22,391.67.
Monday, February 26, 2018
Reserves in China Increased, Pressed Rubber Prices
Rubber prices rebounded in trading this morning, Tuesday (27/2/2018), along with rising rubber stocks in China.
The price of rubber for delivery in August 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), fell 0.41% or 0.80 points to 193.00 yen per kilogram (kg) at 1032 GMT.
Earlier, the price of Augustur's rubber contract opened up 0.36 percent or 0.70 points to 194.50 yen per kg after yesterday's trade closed up 2.76 percent or 5.2 points at 193.80.
Gu Jiong, an analyst with commodity broker Yutaka Shoji in Tokyo, said high rubber stocks in China are pressing the price of this commodity.
The rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tonnes last week. This is an increase for 13 weeks in a row.
Meanwhile, today's yen exchange rate was observed to weaken 0.05% or 0.05 point to 106.98 position per US dollar at 10:59 pm.
The price of rubber for delivery in August 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), fell 0.41% or 0.80 points to 193.00 yen per kilogram (kg) at 1032 GMT.
Earlier, the price of Augustur's rubber contract opened up 0.36 percent or 0.70 points to 194.50 yen per kg after yesterday's trade closed up 2.76 percent or 5.2 points at 193.80.
Gu Jiong, an analyst with commodity broker Yutaka Shoji in Tokyo, said high rubber stocks in China are pressing the price of this commodity.
The rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tonnes last week. This is an increase for 13 weeks in a row.
Meanwhile, today's yen exchange rate was observed to weaken 0.05% or 0.05 point to 106.98 position per US dollar at 10:59 pm.
Rubber Price Up More Than 3%
Rubber prices continued their rally and jumped more than three percent in late trading today, Monday (26/2/2018), in line with the strengthening of the Japanese stock exchange.
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), closed up 3.13% or 5.90 points at 194.10 yen per kilogram (kg).
Previously, the July rubber contract price opened with a 0.21% rise or 0.40 points at 188.60 per kg position, after trading on Friday (23/2) posted a rebound by ending up 1.67% at 188.20 yen .
Kazuhiko Saito, an analyst at Fujitomi commodity brokerage, said a rally in global stock markets boosted investor interest in riskier assets.
"This leads to an increase in rubber purchases in futures exchanges," he said, as quoted by Bloomberg.
The strength of the Topix and Nikkei 225 Japan indexes continued at the end of the second day of consecutive trading Monday following a rally in the US stock market on Friday amid optimism that the Federal Reserve will not in a hurry to raise interest rates.
The Topix index today opened in the green zone with a gain of 0.81% or 14.23 points at 1,774.76 and ended up 0.81% or 14.28 points at 1,774.81.
The Nikkei 225 today ended up 1.19% or 260.85 points at 22,153.63, after opening with a 1.10% gain or 241.86 points at 22,134.64.
On the other hand, the yen appreciated to rise 0.39% or 0.42 points to 106.47 per dollar at 14.47 pm, after opening with a weakness of 0.28% at 107.19.
In line with rubber, WTI oil price contract in April 2018 advanced 0.17% or 0.11 points to US $ 63.66 per barrel at 14:39 pm, after trading on Friday (23/2) ended up 1.24% 63.55.
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), closed up 3.13% or 5.90 points at 194.10 yen per kilogram (kg).
Previously, the July rubber contract price opened with a 0.21% rise or 0.40 points at 188.60 per kg position, after trading on Friday (23/2) posted a rebound by ending up 1.67% at 188.20 yen .
Kazuhiko Saito, an analyst at Fujitomi commodity brokerage, said a rally in global stock markets boosted investor interest in riskier assets.
"This leads to an increase in rubber purchases in futures exchanges," he said, as quoted by Bloomberg.
The strength of the Topix and Nikkei 225 Japan indexes continued at the end of the second day of consecutive trading Monday following a rally in the US stock market on Friday amid optimism that the Federal Reserve will not in a hurry to raise interest rates.
The Topix index today opened in the green zone with a gain of 0.81% or 14.23 points at 1,774.76 and ended up 0.81% or 14.28 points at 1,774.81.
The Nikkei 225 today ended up 1.19% or 260.85 points at 22,153.63, after opening with a 1.10% gain or 241.86 points at 22,134.64.
On the other hand, the yen appreciated to rise 0.39% or 0.42 points to 106.47 per dollar at 14.47 pm, after opening with a weakness of 0.28% at 107.19.
In line with rubber, WTI oil price contract in April 2018 advanced 0.17% or 0.11 points to US $ 63.66 per barrel at 14:39 pm, after trading on Friday (23/2) ended up 1.24% 63.55.
Sunday, February 25, 2018
ANRPC expects 2.8% growth in NR demand this year
Global demand for natural rubber (NR) is set to grow at 2.8% in 2018, considerably higher than 1.2% observed during 2017, according to the Association of Natural Rubber Producing Countries (ANRPC).
In its latest monthly report published 23 Feb, the ANRPC predicted that demand would grow from 12.964 million tonnes in 2017 to 13.327 million tonnes this year.
Contributing to this growth, said ANRPC, are an improving global economy, and the expected impact of recently approved changes to US taxation policy.
Furthermore, the outlook for commodity market prices is expected to strengthen during 2018, due to oil production cuts by OPEC and political tensions in the Middle East.
However, global supply of NR, 90% of which is fulfilled through ANRPC members, is also set to rise 4.5% to 13.784 million tonnes in 2018, the association said.
The growth rate in production is slightly less than the previous year’s growth rate, which stood at 4.7%.
The slower rate was mainly attributed to a lower production anticipated by Thailand at 4.375 million tonnes, down by 1.2% on a year-to-year basis.
Reviewing market performance in January, ANRPC said an early wintering season faced by rubber farmers in China had slowed production.
The same seasonal factor will soon be seen in other major producing countries, predicted ANRPC.
“Slowdown in NR supply may be expected, and this may lead to a much-balanced supply-demand NR market in the coming months,” the association concluded.
Stronger Nikkei Index Pushes Investor Interest, Rubber Strengthens This Morning 26 FEB
Rubber prices moved higher in trading today, Monday (26/2/2018), amid strengthening Japanese and global stock markets
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rose 2.80 percent, or 5.40 points, to 194.00 yen per kilogram (kg) at 10:12 pm.
The July 2018 rubber contract rose 2.82 percent to 193.50 yen per kg after trading last week closed up 1.67 percent to 188.20 yen.
Kazuhiko Saito, an analyst with brokerage commodity Fujitomi, said a global stock market rally prompted investor interest in riskier assets.
"This leads to an increase in rubber purchases in futures exchanges," he said, as quoted by Bloomberg, Monday (26/2/2018).
Japan's Nikkei 225 index rose 0.82 percent or 179.29 points to 22,072.07 at 9:35 am, while the broader Topix gained 0.63 percent to 1,771.59.
Meanwhile, today's yen exchange rate strengthened 0.28% or 0.30 points to 106.59 position per US dollar at 10:39 pm.
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rose 2.80 percent, or 5.40 points, to 194.00 yen per kilogram (kg) at 10:12 pm.
The July 2018 rubber contract rose 2.82 percent to 193.50 yen per kg after trading last week closed up 1.67 percent to 188.20 yen.
Kazuhiko Saito, an analyst with brokerage commodity Fujitomi, said a global stock market rally prompted investor interest in riskier assets.
"This leads to an increase in rubber purchases in futures exchanges," he said, as quoted by Bloomberg, Monday (26/2/2018).
Japan's Nikkei 225 index rose 0.82 percent or 179.29 points to 22,072.07 at 9:35 am, while the broader Topix gained 0.63 percent to 1,771.59.
Meanwhile, today's yen exchange rate strengthened 0.28% or 0.30 points to 106.59 position per US dollar at 10:39 pm.
Friday, February 23, 2018
Supported by Stock Rally and Weaker Yen, Rubber Closed Stronger
Rubber prices closed higher in trading today, Friday (23/2/2018), in the middle of the stock market rally and the weakening of the yen.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.67% or 3.10 points to 188.20 yen per kilogram (kg).
Previously, the July rubber contract price opened up 0.05% or 0.10 points at 185.20 per kg position, having ended in the red zone with a weakening of 0.48% or 0.90 points at 185.10 yen per kg on Thursday trading (22/2).
Naohiro Niimura, a partner at Market Risk Advisory, said a rebounding stock market and a weaker yen prompted a rebound in rubber prices.
Japan's Nikkei 225 Index today closed up 0.72% or 156.34 to 21,892.78.
The Asian bourse is likely to close this week on a positive note as investors continue to debate the prospect of normalizing central bank policies and the impact of higher bond yields.
The MSCI Asia Pacific Index rose along with stock indexes in Tokyo, Hong Kong, Sydney and Seoul in trading this morning. Asian stocks gained support from the S & P 500 index that ended in the green zone in trading yesterday.
Meanwhile, today's yen exchange rate weakened 0.3% or 0.32 points to 107.07 position per US dollar at 14.50 WIB, after on Thursday (22/2) ended up 0.96% in position 106, 75.
Thursday, February 22, 2018
Rubber Price Rebound, Rise Nearly 2% This Morning
Rubber prices rebounded and climbed almost two percent in trading this morning, Friday (2/23/2018), in line with the rebound Japanese stock exchange.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), rose 1.78% or 3.30 points to 188.40 yen per kilogram (kg) at 10:20 pm.
Previously, the July rubber contract price opened up 0.05% or 0.10 points at 185.20 per kg position, having ended in the red zone with a weakening of 0.48% or 0.90 points at 185.10 yen per kg on Thursday trading (22/2).
Meanwhile, Japan's Nikkei 225 index is now up 0.36% or 77.87 points to 21,814.31 at 09.35 WIB. In yesterday's trade, the Nikkei closed down more than 1% in Poisisi 21,736.44.
The Asian bourse is likely to close this week on a positive note as investors continue to debate the prospect of normalizing central bank policies and the impact of higher bond yields.
The MSCI Asia Pacific Index rose along with stock indexes in Tokyo, Hong Kong, Sydney and Seoul in trading this morning. Asian stocks gained support from the S & P 500 index that ended in the green zone in trading yesterday.
On the other hand, today's yen exchange rate was observed to weaken 0.12% or 0.13 points to 106.88 position per US dollar at 1026 GMT, after on Thursday (22/2) ended up 0.96% at 106 , 75.
Stop Three-Day Rally, Rubber Weakens Depressed Declining Oil Prices
Rubber prices closed lower in trading today, Thursday (22/2/2018), stopping the rally of strengthening three consecutive days before.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.48% or 0.90 points to 185.10 yen per kilogram (kg).
Previously, the July rubber contract price opened down 0.11% or 0.20 points at 185.80 per kg position, having ended up 1.20% or 2.20 points at 186 yen per kg on Wednesday (21/2) / 2018).
According to We Tan, marketing manager of Welcome Trading company in Singapore, crude oil price weakening and Japan's Nikkei index weighed on sentiment on rubber price movements today.
WTI oil price contract April 2018 today was observed down 1.02% or 0.63 points to US $ 61.05 per barrel at 14:21 pm.
US crude oil prices weakened on concerns that an increase in US oil reserves will press efforts to cut output OPEC in the next week.
Meanwhile, the yen appreciated 0.23%, or 0.25 point, to 107.53 per US dollar position at 14:35 pm, after Wednesday (21/2) ended down 0.42% at 107.78.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.48% or 0.90 points to 185.10 yen per kilogram (kg).
Previously, the July rubber contract price opened down 0.11% or 0.20 points at 185.80 per kg position, having ended up 1.20% or 2.20 points at 186 yen per kg on Wednesday (21/2) / 2018).
According to We Tan, marketing manager of Welcome Trading company in Singapore, crude oil price weakening and Japan's Nikkei index weighed on sentiment on rubber price movements today.
WTI oil price contract April 2018 today was observed down 1.02% or 0.63 points to US $ 61.05 per barrel at 14:21 pm.
US crude oil prices weakened on concerns that an increase in US oil reserves will press efforts to cut output OPEC in the next week.
Meanwhile, the yen appreciated 0.23%, or 0.25 point, to 107.53 per US dollar position at 14:35 pm, after Wednesday (21/2) ended down 0.42% at 107.78.
Wednesday, February 21, 2018
Oil Down 1%, Rubber Price Dragged Down
Rubber prices moved in the red zone in trading this morning, Thursday (22/2/2018), stopping the rally posted several days in a row before, in line with the weakening of crude oil prices.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), fell 0.48% or 0.90 points to 185.10 yen per kilogram (kg) at 10:33 pm.
Previously, the July rubber contract price opened down 0.11% or 0.20 points at 185.80 per kg position, having ended up 1.20% or 2.20 points at 186 yen per kg on Wednesday (21/2) ).
According to We Tan, marketing manager of Welcome Trading company in Singapore, crude oil price weakening and Japan's Nikkei index weighed on sentiment over the rubber this morning.
The WTI oil price of April 2018 contract today was dipped 1.02% or 0.63 points to US $ 61.05 per barrel at 10,29 WIB.
US crude oil prices weakened on concerns that an increase in US oil reserves will push efforts to cut output OPEC in the next week.
The Nikkei 225 Japan index of the day was down 1.18% or 258.61 points to 21,712.20 at 09.35 WIB.
The benchmark Japanese benchmark index fell along with Asian bourses following a surge in US bond yields as well as the US Federal Reserve's central bank statement on the economy, which strengthened the prospect of tightening while reducing the appeal of riskier assets.
Meanwhile, the yen exchange rate was observed to rebound with a gain of 0.42% or 0.45 points to 107.33 position per US dollar at 10:38 pm, after on Wednesday (21/2) ended down 0.42% at position 107, 78.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), fell 0.48% or 0.90 points to 185.10 yen per kilogram (kg) at 10:33 pm.
Previously, the July rubber contract price opened down 0.11% or 0.20 points at 185.80 per kg position, having ended up 1.20% or 2.20 points at 186 yen per kg on Wednesday (21/2) ).
According to We Tan, marketing manager of Welcome Trading company in Singapore, crude oil price weakening and Japan's Nikkei index weighed on sentiment over the rubber this morning.
The WTI oil price of April 2018 contract today was dipped 1.02% or 0.63 points to US $ 61.05 per barrel at 10,29 WIB.
US crude oil prices weakened on concerns that an increase in US oil reserves will push efforts to cut output OPEC in the next week.
The Nikkei 225 Japan index of the day was down 1.18% or 258.61 points to 21,712.20 at 09.35 WIB.
The benchmark Japanese benchmark index fell along with Asian bourses following a surge in US bond yields as well as the US Federal Reserve's central bank statement on the economy, which strengthened the prospect of tightening while reducing the appeal of riskier assets.
Meanwhile, the yen exchange rate was observed to rebound with a gain of 0.42% or 0.45 points to 107.33 position per US dollar at 10:38 pm, after on Wednesday (21/2) ended down 0.42% at position 107, 78.
Yen Still Weak, Rubber Price Continues Rally on Third Day
Rubber prices continued to strengthen on the third day in a row on Wednesday (21/2/2018), along with the continued depreciation of the yen against the US dollar.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.20% or 2.20 points to 186.00 yen per kilogram (kg).
Previously, the July rubber contract price opened with a 0.11% rise or 0.20 point at 184 per kg position, having ended up 0.66% or 1.20 points at 183.80 yen per kg on Tuesday trading (20 / 2).
According to Kazuhiko Saito, an analyst at brokerage firm Fujitomi in Tokyo, the strengthening of rubber prices is supported by the weakening performance of the yen and rising stock indices in Japan.
The yen continued to depreciate for the fourth straight day of trading, weakening 0.37% or 0.40 points to 107.73 per dollar at 14.17 Western Indonesia Time, after falling 0.69 yesterday % at position 107.33.
As is known, the movement of rubber prices is usually inversely proportional to the yen. The weakening yen gives fresh winds for rubber and can lift up the price of this commodity by the potential increase in demand from buyers.
Japan's Nikkei 225 index closed up 0.21% or 45.71 points to 21,970.81.
"However, the strengthening of rubber may be limited by the sentiment of high reserve levels," added Saito, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 0.5% last week to 434,330 tons, the 12th consecutive weekly rise.
In contrast to rubber, WTI oil price of April 2018 contract today was down 0.89% or 0.55 points to US $ 61.24 per barrel at 10:18 pm.
Tuesday, February 20, 2018
Rubber Prices Closed Stronger 0.66%
Rubber prices could close higher on the second day in a row on Tuesday trading (20/2/2018).
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 0.66% or 1.2 points to 183.80 yen per kilogram (kg).
Previously, the July rubber contract price opened with a slight increase of 0.05% or 0.10 points at 182.70 per kg position after successfully rebounding with a gain of 0.61% or 1.10 points at 182.60 yen per kg position trading Monday (19/2).
According to We Tan, marketing manager of Welcome Trading company in Singapore, rubber prices got a positive boost from crude oil price increase.
WTI oil price contract in March 2018 today was followed up by 1.07% or 0.66 points to US $ 62.34 per barrel at 13:53 pm.
Crude oil prices rose after some of the world's biggest oil producers signaled further cooperation to tighten supplies by year's end.
Supporting the rubber, the yen continued to weaken 0.3%, or 0.32 points, to 106.91 per dollar at 14.03 pm on Monday (19/2) ending down 0.36% at 106.59 .
"Nevertheless, the strengthening of rubber is limited by concerns surrounding high reserve levels following the weakening of the Nikkei index," Tan added, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 0.5% last week to 434,330 tons, the 12th consecutive weekly rise.
Meanwhile, Japan's Nikkei 225 index today closed down 1.01% or 224.11 points to 21,925.10.
Monday, February 19, 2018
Rubber Price Continues Strengthening Second Day
Rubber was able to extend its gains in the second day of trading on Tuesday (02/20/2010), despite concerns over high rubber stocks.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), rose 0.33% or 0.60 points to 183.20 yen per kilogram (kg) at 10:15 pm.
Previously, the July rubber contract price opened with a slight increase of 0.05% or 0.10 points at 182.70 per kg position after successfully rebounding with a gain of 0.61% or 1.10 points at 182.60 yen per kg position trading Monday (19/2).
According to We Tan, marketing manager of Welcome Trading company in Singapore, rubber prices got a positive boost from crude oil price increase.
WTI oil price contract in March 2018 today was observed higher by 0.99% or 0.61 points to US $ 62.29 per barrel at 10:13 pm.
Crude oil prices rose after some of the world's biggest oil producers signaled further cooperation to tighten supplies by year's end.
Supporting the rubber, the yen continued to depreciate 0.14%, or 0.15 points, to 106.74 per dollar at 10:22 pm, after Monday (19/2) ended down 0.36% at 106.59 .
"Nevertheless, the strengthening of rubber is limited by concerns surrounding high reserve levels following the weakening of the Nikkei index," Tan added, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 0.5% last week to 434,330 tons, the 12th consecutive weekly rise.
Meanwhile, Japan's Nikkei 225 index today was down 1.20% or 265 points to 21,884.21 at 09.35 WIB, after opening down 0.43% at 22,054.32.
Crude Oil Rises, Rubber Prices Closed Rebound
The price of rubber closed rebound in trading today, Monday (19/2/2018) supported by the strengthening of crude oil prices, offsetting concerns about the high rubber stock.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 0.61% or 1.10 points to 182.90 yen per kilogram (kg).
Earlier, the July rubber contract price opened with a 0.28% rebound or 0.50 per cent at 182 per kg after ending down 2.42% or 4.50 points at 181.50 yen per kg in Friday's trading (16/2 ).
"Short covering action amid rising crude oil prices offset concerns over the high amount of rubber reserves," said Gu Jiong, a brokerage analyst at Yutaka Shoji, as quoted by Bloomberg.
WTI oil prices continued to watch up 1.12% or 0.69 points to US $ 62.37 per barrel at 14.10 Western Indonesia Time (WIB), after ending up 0.55% or 0.34 points at 61.68 on Friday ( 16/2).
Meanwhile, China's rubber reserves monitored by the Shanghai Futures Exchange increased 0.5% last week to 434,330 tons, the 12th consecutive weekly rise.
Supporting rubber, the yen was down 0.35 percent or 0.37 points to 106.58 yen per dollar at 14.23 pm.
Nevertheless, the lack of buyers from China limits the strengthening of rubber. Trading activities in China are going away from February 15 to February 21 due to the Chinese New Year holiday.
Friday, February 16, 2018
TOCOM plunges to 8-mth low on yen surge
Benchmark Tokyo rubber futures plunged to 8-month lows on Friday, marking their fifth straight weekly loss, as selling intensified after the yen extended gains against the U.S. dollar and amid concerns over rising inventories.
The dollar on Friday fell to as low as 105.545 yen , its weakest since November 2016. The U.S. currency has been weighed down by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to scale back easy monetary policy. The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery finished 4.5 yen, or 2.4 percent, lower at 181.5 yen ($1.72) per kg, after diving below a 180 yen mark of 179.2 yen, the lowest since June 7.
For the week, it lost 4.1 percent.
"With little fresh factors, as China and many other Asian financial markets closed for a holiday, the yen's surge prompted a flurry of selling in the TOCOM," said Satoru Yoshida, a commodity analyst with Rakuten Securities.
A stronger yen makes yen-denominated assets less affordable when purchased in other currencies.
Chinese financial markets are closed for a week from Thursday for the Lunar New Year holiday. Most of Southeast Asian financial markets are also closed on Friday for the holiday. "If the yen keeps rising next week, rubber prices are expected to remain under pressure as market fundamental is also weak given increasing inventories in Japan and China," Yoshida added. ($1 = 105.8300 yen)
Wednesday, February 14, 2018
Nikkei Index Stronger, Price Rubber Rebound This Morning
Rubber prices rebounded on trading today, Thursday (15/2/2018), menysul strengthening in the stock of Japan and Asia.
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), rose 0.6% or 1.1 points to 185.40 yen per kilogram (kg) at 1032 WIB.
Previously, the July rubber contract price opened a 0.22% rebound or 0.4 points at 184.70 per kg after closing down 2.64% or 5 points at position 184.3 yen per kg on Wednesday (14/2/2018 ).
According to Gu Jiong, an analyst from broker Yutaka Shoji, the strengthening of rubber prices today is driven by the strengthening in Nikkei index. Japan and the majority of other Asian exchanges.
"In addition, the thin trade volume due to China's close market also contributed to the strengthening," he said, as quoted by Bloomberg, Thursday (15/2/2018).
The Nikkei 225 index was up 1.33% or 280.46 at 21,434.63, while the Topix gained 1.08% or 18.41 points to 1,721.13 at 1031 GMT.
On the other hand, the Japanese yen appreciated 0.42% or 0.45 points to 106.56 at 10:51 pm.
TOCOM hits near 8-month low on strong yen
Benchmark Tokyo rubber futures hit their lowest in nearly eight months on Wednesday, coming under pressure as the yen soared to a 15-month high against the dollar, brokers said.
The Tokyo Commodity Exchange rubber contract for July delivery finished 5 yen lower at 184.3 yen (US$1.72) per kg. Earlier in the session, it hit 184.1 yen, the lowest since June 21, 2017.
The dollar slid to a 15-month low against the yen on Wednesday, as investors remained on edge ahead of key US inflation numbers later in the day, underscoring fragile risk sentiment following the recent shakeout in equity markets.
A stronger Japanese currency makes yen-denominated assets less affordable when purchased in other currencies.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 25 yuan to finish at 12,500 yuan (US$1,972) per tonne.
Chinese markets will be closed for a week from Thursday for the Lunar New Year holiday.
The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 143.80 US cents per kg, down 0.7 cent.
Price of Rubber Closed Down More than 2%
Rubber prices plunged more than two percent in late trading today, Wednesday (14/2/2018), ahead of the Chinese New Year holiday.
Rubber for July 2018 at Tokyo Commodity Exchange (Tocom), closed down 2.64% or 5 points at 184.30 yen per kilogram (kg).
Previously, the July rubber contract price opened with a 0.48% decline or 0.90 points at 188.40, after posting a rebound despite a slight increase of 0.05% or 0.1 point at 189.30 at the end of trading Tuesday 13/2).
According to Kazuhiko Saito, an analyst at Fujitomi brokerage in Tokyo, the weakening of rubber prices today was driven by investors selling ahead of the Chinese New Year holiday.
"In addition, there are concerns about rising rubber stocks," Saito continued, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.3% last week to 432,050 tons, the 11th straight week of gains.
Also pressing the price of rubber, the yen continued to appreciate 0.61% or 0.66 points to 107.16 per dollar at 13.50 WIB. On Tuesday (13/2), the yen ended up 0.77% or 0.84 points at 107.82 position.
The yen appreciated against the US dollar on a third day in a row to its strongest level in 15 months ahead of the release of US inflation reports later in the day.
In line with rubber, Japan's Nikkei 225 index is also under pressure with the ending down 0.43% or 90.51 points at 21,154.17 level in today's trading.
Meanwhile, the WTI oil price continued to fall 0.02% or 0.01 point to US $ 59.18 per barrel at 13.42 WIB, after ending down 0.17% or 0.10 point at 59.19 position in trading Tuesday (13/2).
Tuesday, February 13, 2018
Selling ahead of Chinese New Year, Rubber Price Drops Nearly 2%
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), fell 1.95% or fell 3.70 points to 185, 60 yen per kilogram (kg) at 10:47 pm.
Earlier in July the contract also opened 0.48 percent lower or fell 0.90 points at 188.40, after closing up 0.05 percent or 0.1 point at 189.30 yen on Tuesday (13/2).
According to Kazuhiko Saito, an analyst at Fujitomi brokerage in Tokyo, the weakening of rubber prices today was driven by investors selling ahead of the Chinese New Year holiday. "In addition, there are concerns about rising rubber stocks," he continued, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.3% last week to 432,050 tons, the 11th straight week of gains.
Also pressing the price of rubber, the yen appreciated by 0.86% or 0.93 points to 106.89 yen per US dollar at 11:22 pm.
Rubber Price up with 0.05% increasing on 13 FEB 2018
Rubber prices managed to end its movement in the green zone in the first trade after the national holiday, Tuesday (13/2/2018), although at the same time the performance of the Japanese yen continues to appreciate.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed with a 0.05% rise or 0.10 points at 189.30 yen per kilogram (kg).
Previously, the July rubber contract price opened up 0.16% or 0.30 points at 189.50 position, after closing down 1.61% at the level of 189.20 on Friday (9/2/2018). Rubber trading on the Tocom exchange was not opened on Monday (12/2) because of Japan's national holiday.
The rise in rubber prices in today's trading at once broke the weakness for two consecutive trading days earlier.
"Rubber prices are buoyed by investors' concerns ahead of a low season of production, which could limit supply," said Gu Jiong, an analyst from Yutaka Shoji, as quoted by Bloomberg.
However, he said, the continued increase in rubber stocks in China gave sentiment pressure on rubber prices. In addition, the decline in the physical price of rubber also suppressed the price of rubber futures.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.3% last week to 432,050 tons, the 11th straight week of gains.
Meanwhile, the yen continued to appreciate 0.54% or 0.59 points to 108.07 per US dollar at 14.02 WIB, after Monday (12/2) ended up 0.12% or 0.13 points at position 108.66.
In line with rubber, WTI oil price rose 0.49% or 0.29 points to US $ 59.58 per barrel at 13:53 pm
Sunday, February 11, 2018
Rubber Prices Closed Weak Down, Down 3.91% This Week (09 FEB 2018)
The weakening of rubber prices continued on the second day of trading in a row on Friday (9/2/2018).
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed down 1.61% or 3.1 points to 189.20 yen per kilogram (kg).
Previously, the July rubber contract price opened stagnant at 192.30 position, having ended down 1.64% or 3.20 points at 192.30 position on Thursday (8/2).
Thus, rubber has fallen 3.91% so far this week, its biggest weekly decline since 21 November 2017 ago.
According to Naohiro Niimura, partner at market research firm Risk Advisory, a sell-off against global stock markets encourages risk aversion by investors.
"It triggers the sale of rubber and other industrial commodities," Niimura continued, as quoted by Bloomberg.
Asian stocks slumped in trading this morning after US stocks again declined amid concerns over rising bond yields.
US stocks began to falter since Friday last week after healthy US nonfarm payrolls data sparked a surge in bond yields and fears of rising inflation that could trigger a central bank interest rate hike.
At the same time, the price of WTI oil in March 2018 contract today was down 1.01% or 0.62 points to US $ 60.53 per barrel at 13:56 pm, the weakest for the sixth consecutive day.
In addition to weighing on the movement of rubber, China's rubber reserves monitored by Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise.
On the other hand, the observed yen exchange rate depreciated 0.29% or 0.32 points to 109.06 per dollar position at 14.09 WIB, after trading on Thursday (8/2) ended up 0.54% or 0.59 points at the 108.74 level.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed down 1.61% or 3.1 points to 189.20 yen per kilogram (kg).
Previously, the July rubber contract price opened stagnant at 192.30 position, having ended down 1.64% or 3.20 points at 192.30 position on Thursday (8/2).
Thus, rubber has fallen 3.91% so far this week, its biggest weekly decline since 21 November 2017 ago.
According to Naohiro Niimura, partner at market research firm Risk Advisory, a sell-off against global stock markets encourages risk aversion by investors.
"It triggers the sale of rubber and other industrial commodities," Niimura continued, as quoted by Bloomberg.
Asian stocks slumped in trading this morning after US stocks again declined amid concerns over rising bond yields.
US stocks began to falter since Friday last week after healthy US nonfarm payrolls data sparked a surge in bond yields and fears of rising inflation that could trigger a central bank interest rate hike.
At the same time, the price of WTI oil in March 2018 contract today was down 1.01% or 0.62 points to US $ 60.53 per barrel at 13:56 pm, the weakest for the sixth consecutive day.
In addition to weighing on the movement of rubber, China's rubber reserves monitored by Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise.
On the other hand, the observed yen exchange rate depreciated 0.29% or 0.32 points to 109.06 per dollar position at 14.09 WIB, after trading on Thursday (8/2) ended up 0.54% or 0.59 points at the 108.74 level.
Thursday, February 8, 2018
AETS policy has not been effective against rubber prices
The implementation of 350,000 tons of export limitations or Agreed Export Tonnage Scheme (AETS) by International Tripartite Rubber Council (ITRC) is still not effective in rubber prices.
"AETS has not been effective against rubber prices," said Chairman of the Indonesian Rubber Council (Dekarindo), Azis Pane to KONTAN, Thursday (8/2).
The export cuts have not been effective because of the stocks owned by rubber country consumers are still abundant. Azis said China and Japan as the largest consumer of rubber still keep a large stock.
In addition, the implementation of AETS which followed only three countries ITRC namely Indonesia, Thailand, and Malaysia is still considered not able to control the price. Azis said Vietnam needs to be included even for countries starting rubber production such as Laos and Cambodia.
Currently ITRC only dominate the market by 71%. However, if developed by inviting Vietnam, Laos, and Cambodia then the market is controlled can reach 90%.
"We need to make ASEAN rubber consortium to be stronger in determining the price," explained Azis.
In addition to prices, the government's plan to increase exports by trade returns was welcomed. However, azis warned that the trade return must be considered in order to be profitable.
Previously Minister of Trade (Mendag), Enggartiasto Lukita mentioned one step to increase exports is to barter. Various superior commodities Indonesia will be offered and one of them is rubber.
"AETS has not been effective against rubber prices," said Chairman of the Indonesian Rubber Council (Dekarindo), Azis Pane to KONTAN, Thursday (8/2).
The export cuts have not been effective because of the stocks owned by rubber country consumers are still abundant. Azis said China and Japan as the largest consumer of rubber still keep a large stock.
In addition, the implementation of AETS which followed only three countries ITRC namely Indonesia, Thailand, and Malaysia is still considered not able to control the price. Azis said Vietnam needs to be included even for countries starting rubber production such as Laos and Cambodia.
Currently ITRC only dominate the market by 71%. However, if developed by inviting Vietnam, Laos, and Cambodia then the market is controlled can reach 90%.
"We need to make ASEAN rubber consortium to be stronger in determining the price," explained Azis.
In addition to prices, the government's plan to increase exports by trade returns was welcomed. However, azis warned that the trade return must be considered in order to be profitable.
Previously Minister of Trade (Mendag), Enggartiasto Lukita mentioned one step to increase exports is to barter. Various superior commodities Indonesia will be offered and one of them is rubber.
Rubber Prices Dropped on Second Day
The weakening of rubber prices continued in the second day of consecutive trading on Friday (9/2/2018), in line with the continued weakening of crude oil prices and the performance of global stocks again depressed.
Rubber for July 2018 at Tokyo Commodity Exchange (Tocom), shed 1.87 percent, or 3.60 points, to 188.70 yen per kilogram (kg) at 0943 GMT.
Previously, the July rubber contract price opened stagnant at 192.30 position, having ended down 1.64% or 3.20 points at 192.30 position on Thursday (8/2).
Thus, rubber has fallen about 3.9% this week, heading for the biggest weekly decline since Nov. 21.
According to Naohiro Niimura, partner at market research firm Risk Advisory, a sell-off against global stock markets encourages risk aversion by investors.
"It triggers the sale of rubber and other industrial commodities," Niimura continued, as quoted by Bloomberg.
Asian stocks slumped in trading this morning after US stocks again declined amid concerns over rising bond yields.
US stocks began to falter since Friday last week after healthy US nonfarm payrolls data sparked a surge in bond yields and fears of rising inflation that could trigger a central bank interest rate hike.
At the same time, the price of WTI oil contract in March 2018 today was observed further down 1.13% or 0.69 points to US $ 60.46 per barrel at 09.38 WIB, the weakness for the sixth consecutive day.
Oil continued to weaken below $ 61 a barrel as soaring US crude supplies coupled with technical indicators signaled further price downside potential.
In addition to weighing on the movement of rubber, China's rubber reserves monitored by Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise.
On the other hand, the observed yen exchange rate depreciated 0.12% or 0.13 points to 108.87 per dollar at 09.48 WIB, after trading on Thursday (8/2) ended up 0.54% or 0.59 points at the 108.74 level.
Rubber for July 2018 at Tokyo Commodity Exchange (Tocom), shed 1.87 percent, or 3.60 points, to 188.70 yen per kilogram (kg) at 0943 GMT.
Previously, the July rubber contract price opened stagnant at 192.30 position, having ended down 1.64% or 3.20 points at 192.30 position on Thursday (8/2).
Thus, rubber has fallen about 3.9% this week, heading for the biggest weekly decline since Nov. 21.
According to Naohiro Niimura, partner at market research firm Risk Advisory, a sell-off against global stock markets encourages risk aversion by investors.
"It triggers the sale of rubber and other industrial commodities," Niimura continued, as quoted by Bloomberg.
Asian stocks slumped in trading this morning after US stocks again declined amid concerns over rising bond yields.
US stocks began to falter since Friday last week after healthy US nonfarm payrolls data sparked a surge in bond yields and fears of rising inflation that could trigger a central bank interest rate hike.
At the same time, the price of WTI oil contract in March 2018 today was observed further down 1.13% or 0.69 points to US $ 60.46 per barrel at 09.38 WIB, the weakness for the sixth consecutive day.
Oil continued to weaken below $ 61 a barrel as soaring US crude supplies coupled with technical indicators signaled further price downside potential.
In addition to weighing on the movement of rubber, China's rubber reserves monitored by Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise.
On the other hand, the observed yen exchange rate depreciated 0.12% or 0.13 points to 108.87 per dollar at 09.48 WIB, after trading on Thursday (8/2) ended up 0.54% or 0.59 points at the 108.74 level.
Oil Down, Rubber Prices Closed Down 1.64%
The price of rubber closed down more than 1% in trading today, Thursday (8/2/2018), following the weakening of crude oil prices.
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), closed down 1.64% or 3.20 points to 192.30 yen per kilogram (kg).
Previously, July's rubber contract price opened down 0.20% or 0.40 points at 195.10, after able to book a rebound by ending up 0.93% or 1.80 points at position 195.50 on Wednesday trading (7/2 ).
According to Gu Jiong, an analyst at Yutaka Shoji, the rubber market is under pressure from weakening oil prices.
The price of WTI oil in March 2018 contract was down 0.34% or 0.21 points to US $ 61.58 per barrel at 13:56 pm, after dropping 2.52% or 1.60 points at 61.79 in late trading Wednesday 7/2).
Oil stays below $ 62 a barrel after US crude oil production surged to a record, raising concern global supplies will weigh on demand.
"In addition, the negative sentiment towards prices is also influenced by high levels of rubber inventories, especially in the Shanghai market," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
On the other hand, the yen exchange rate was observed to weaken 0.27% or 0.29 points to 109.62 yen per dollar at 14.10 WIB, after trading on Wednesday (7/2) ended up 0.21% or 0, 23 points.
The price of rubber for delivery in July 2018 on the Tokyo Commodity Exchange (Tocom), closed down 1.64% or 3.20 points to 192.30 yen per kilogram (kg).
Previously, July's rubber contract price opened down 0.20% or 0.40 points at 195.10, after able to book a rebound by ending up 0.93% or 1.80 points at position 195.50 on Wednesday trading (7/2 ).
According to Gu Jiong, an analyst at Yutaka Shoji, the rubber market is under pressure from weakening oil prices.
The price of WTI oil in March 2018 contract was down 0.34% or 0.21 points to US $ 61.58 per barrel at 13:56 pm, after dropping 2.52% or 1.60 points at 61.79 in late trading Wednesday 7/2).
Oil stays below $ 62 a barrel after US crude oil production surged to a record, raising concern global supplies will weigh on demand.
"In addition, the negative sentiment towards prices is also influenced by high levels of rubber inventories, especially in the Shanghai market," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
On the other hand, the yen exchange rate was observed to weaken 0.27% or 0.29 points to 109.62 yen per dollar at 14.10 WIB, after trading on Wednesday (7/2) ended up 0.21% or 0, 23 points.
Wednesday, February 7, 2018
Oil Holds Below US $ 62 Per Barrel, Rubber Prices Drop
The price of rubber slumped more than 1% in trading this morning, Thursday (8/2/2018), along with the continued weakening of crude oil prices.
Rubber for July 2018 at Tokyo Commodity Exchange (Tocom), shed 1.28 percent, or 2.50 points, to 193 yen per kilogram (kg) at 10,17 pm.
Previously, July's rubber contract price opened down 0.20% or 0.40 points at 195.10, after able to book a rebound by ending up 0.93% or 1.80 points at position 195.50 on Wednesday trading (7/2 ).
According to Gu Jiong, an analyst at Yutaka Shoji, the rubber market is under pressure from weakening oil prices.
WTI oil price contract in March 2018 observed further weakened 0.31% or 0.19 points to US $ 61.60 per barrel at 10:14 pm, after dropping 2.52% or 1.60 points at position 61.79 at the end of trading Wednesday (7/2).
Oil stays below $ 62 a barrel after US crude oil production surged to a record, raising concern global supplies will weigh on demand.
"In addition, the negative sentiment towards prices is also influenced by high levels of rubber inventories, especially in the Shanghai market," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
On the other hand, the yen exchange rate stagnated at 109.33 to the US dollar at 10:23 pm, after trading Wednesday (7/2) ended up 0.21% or 0.23 points.
Rubber for July 2018 at Tokyo Commodity Exchange (Tocom), shed 1.28 percent, or 2.50 points, to 193 yen per kilogram (kg) at 10,17 pm.
Previously, July's rubber contract price opened down 0.20% or 0.40 points at 195.10, after able to book a rebound by ending up 0.93% or 1.80 points at position 195.50 on Wednesday trading (7/2 ).
According to Gu Jiong, an analyst at Yutaka Shoji, the rubber market is under pressure from weakening oil prices.
WTI oil price contract in March 2018 observed further weakened 0.31% or 0.19 points to US $ 61.60 per barrel at 10:14 pm, after dropping 2.52% or 1.60 points at position 61.79 at the end of trading Wednesday (7/2).
Oil stays below $ 62 a barrel after US crude oil production surged to a record, raising concern global supplies will weigh on demand.
"In addition, the negative sentiment towards prices is also influenced by high levels of rubber inventories, especially in the Shanghai market," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
On the other hand, the yen exchange rate stagnated at 109.33 to the US dollar at 10:23 pm, after trading Wednesday (7/2) ended up 0.21% or 0.23 points.
Tuesday, February 6, 2018
Rubber Futures Weaken
The price of rubber has weakened along with rising reserves in China and Japan in addition to the effect of strengthening the yen. It is estimated that in the near future the price will move in the range of 174 yen-180 yen per kilogram.
At the close of trading Tuesday (6/2/2018), the price of the most active contract rubber in July 2018 on the Tokyo Commodity Exchange (Tocom) dropped 3 points or 1.53% to 193.70 yen (US $ 1.77) per kilogram (kg) from the 196.70 yen per kg level achieved in the previous trading session.
Asian Trade Point Futures analyst Deddy Yusuf Siregar said that rubber prices are weakening due to pressure from the strengthening of the yen currency so far this year in addition to increasing the amount of reserves.
"Earlier this year the strengthening of the yen has negatively affected the price of rubber," Deddy told Bisnis on Tuesday (6/2/2018).
Observed, the currency movement of Sakura State during the year 2018 has grown 0.19%. Currently the yen is still moving around the 109 level per US dollar, away from the 113.09 level per US dollar on January 8, 2018.
Also putting pressure on prices, the abundance of China's rubber reserves monitored by the Shanghai Futures Exchange (SHFE) and rubber stocks in Japan pushed prices lower.
Recorded, rubber reserves in China as the largest consumer of rubber in the world increased 1.7% in the last week to 426,498 tons. This number is the tenth consecutive weekly rise.
Meanwhile, the Japan Rubber Trading Association recorded rubber stocks rose 8.2% to 13,307 tons. "It is estimated that rubber prices will move in the range of 174 yen-180 yen [US $ 1.59-US $ 1.65] per kilogram in the short term," continued Deddy.
Gu Jiong, an analyst at Yutaka Shoji, said that rubber prices weighed down on global stock markets. Quoted by Bloomberg, Asian bourses slumped on the second day of trading in a row, while US stocks continued to fall following a broad sell-off in the stock market.
"Investors are turning to safe-haven assets, raising the performance of the yen and US bonds," Jiong said.
At the close of trading Tuesday (6/2/2018), the price of the most active contract rubber in July 2018 on the Tokyo Commodity Exchange (Tocom) dropped 3 points or 1.53% to 193.70 yen (US $ 1.77) per kilogram (kg) from the 196.70 yen per kg level achieved in the previous trading session.
Asian Trade Point Futures analyst Deddy Yusuf Siregar said that rubber prices are weakening due to pressure from the strengthening of the yen currency so far this year in addition to increasing the amount of reserves.
"Earlier this year the strengthening of the yen has negatively affected the price of rubber," Deddy told Bisnis on Tuesday (6/2/2018).
Observed, the currency movement of Sakura State during the year 2018 has grown 0.19%. Currently the yen is still moving around the 109 level per US dollar, away from the 113.09 level per US dollar on January 8, 2018.
Also putting pressure on prices, the abundance of China's rubber reserves monitored by the Shanghai Futures Exchange (SHFE) and rubber stocks in Japan pushed prices lower.
Recorded, rubber reserves in China as the largest consumer of rubber in the world increased 1.7% in the last week to 426,498 tons. This number is the tenth consecutive weekly rise.
Meanwhile, the Japan Rubber Trading Association recorded rubber stocks rose 8.2% to 13,307 tons. "It is estimated that rubber prices will move in the range of 174 yen-180 yen [US $ 1.59-US $ 1.65] per kilogram in the short term," continued Deddy.
Gu Jiong, an analyst at Yutaka Shoji, said that rubber prices weighed down on global stock markets. Quoted by Bloomberg, Asian bourses slumped on the second day of trading in a row, while US stocks continued to fall following a broad sell-off in the stock market.
"Investors are turning to safe-haven assets, raising the performance of the yen and US bonds," Jiong said.
Sunday, February 4, 2018
Rubber price was observed in the red zone in trading this morning, Monday (5/2/2018), weighed down by a number of factors.
Rubber price was observed in the red zone in trading this morning, Monday (5/2/2018), weighed down by a number of factors.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), down 0.15% or 0.30 points to 196.60 yen per kilogram (kg) at 10:17 pm.
Earlier, July's contract rubber price movements opened in the red zone with a weakening 0.46% or 0.90 points at 196, after trading Friday (2/2) managed to maintain its rally by ending up 1.76% or 3.40 points at position 196,60 yen per kg.
According to Kazuhiko Saito, an analyst at brokerage firm Fujitomi, the rubber market sentiment was hurt by sharp declines in the stock market, the strengthening of the yen, and the weakening of crude oil prices.
Reported by Bloomberg, Asian stocks and stock markets in the United States (US) weakened, while expanding the largest selling action for global stocks in two years as investors adjusted with a surge in global bond yields.
Stocks slumped across the region as well as placing the MSCI Asia Pacific Index on track for its biggest decline in nearly 14 months.
At the same time, the yen appreciated to strengthen 0.23% or 0.25 points to 109.91 per dollar at 10:22 pm, having opened a thin 0.05% depreciation or 0.05 point at the 110 level, 21. In trading Friday (2/2), the yen ended down 0.69% or 0.76 points at 110.16 position.
Meanwhile, China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded rubber stocks increased 8.2% to 13,307 tons.
In line with rubber, WTI oil price contract in March 2018 today fell 1.08% or 0.71 points to US $ 64.74 per barrel at 10:13 pm.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), down 0.15% or 0.30 points to 196.60 yen per kilogram (kg) at 10:17 pm.
Earlier, July's contract rubber price movements opened in the red zone with a weakening 0.46% or 0.90 points at 196, after trading Friday (2/2) managed to maintain its rally by ending up 1.76% or 3.40 points at position 196,60 yen per kg.
According to Kazuhiko Saito, an analyst at brokerage firm Fujitomi, the rubber market sentiment was hurt by sharp declines in the stock market, the strengthening of the yen, and the weakening of crude oil prices.
Reported by Bloomberg, Asian stocks and stock markets in the United States (US) weakened, while expanding the largest selling action for global stocks in two years as investors adjusted with a surge in global bond yields.
Stocks slumped across the region as well as placing the MSCI Asia Pacific Index on track for its biggest decline in nearly 14 months.
At the same time, the yen appreciated to strengthen 0.23% or 0.25 points to 109.91 per dollar at 10:22 pm, having opened a thin 0.05% depreciation or 0.05 point at the 110 level, 21. In trading Friday (2/2), the yen ended down 0.69% or 0.76 points at 110.16 position.
Meanwhile, China's rubber reserves monitored by the Shanghai Futures Exchange increased 1.7% last week to 426,498 tons, the tenth consecutive weekly rise. The Rubber Trading Association of Japan recorded rubber stocks increased 8.2% to 13,307 tons.
In line with rubber, WTI oil price contract in March 2018 today fell 1.08% or 0.71 points to US $ 64.74 per barrel at 10:13 pm.
Friday, February 2, 2018
Rubber Prices Record Weekly Decline
The price of rubber recorded a weekly decline, although it managed to close higher on Friday (2/2/2018), due to the negative sentiment from rising reserves in China and Japan.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.76% or 3.40 points to 196.90 yen per kilogram (kg). Since the beginning of this week, rubber prices have declined by 4%.
Previously, the July rubber contract price movement opened in the red zone with a weakening 0.47% or 0.90 points at 192.60 position. In trading Thursday (1/2), this commodity managed to book a rebound with a rise of 0.31% or 0.60 points at 193.50 yen per kg position.
According to Kazuhiko Saito, an analyst at Fujitomi brokerage firm, rubber prices on the Tocom bourse are affected by rising rubber stocks in China and Japan.
China's rubber stocks monitored by the Shanghai Futures Exchange increased 0.9% last week to 419,310 tonnes. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
Meanwhile, the yen exchange rate was observed to weaken 0.38% or 0.42 points to 109.82 position per US dollar at 13:56 pm, the weakening on the third day in a row. On Thursday (1/2), the yen ended down 0.19% or 0.21 point at 109.40 position.
As is known, the movement of rubber prices is usually inversely proportional to the yen. The weakening Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively cheaper for overseas buyers. As a result, demand for these commodities has the potential to increase.
The price of rubber for delivery in July 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.76% or 3.40 points to 196.90 yen per kilogram (kg). Since the beginning of this week, rubber prices have declined by 4%.
Previously, the July rubber contract price movement opened in the red zone with a weakening 0.47% or 0.90 points at 192.60 position. In trading Thursday (1/2), this commodity managed to book a rebound with a rise of 0.31% or 0.60 points at 193.50 yen per kg position.
According to Kazuhiko Saito, an analyst at Fujitomi brokerage firm, rubber prices on the Tocom bourse are affected by rising rubber stocks in China and Japan.
China's rubber stocks monitored by the Shanghai Futures Exchange increased 0.9% last week to 419,310 tonnes. The Rubber Trading Association of Japan recorded an increase in rubber stock by 8.2% to 13,307 tons.
Meanwhile, the yen exchange rate was observed to weaken 0.38% or 0.42 points to 109.82 position per US dollar at 13:56 pm, the weakening on the third day in a row. On Thursday (1/2), the yen ended down 0.19% or 0.21 point at 109.40 position.
As is known, the movement of rubber prices is usually inversely proportional to the yen. The weakening Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively cheaper for overseas buyers. As a result, demand for these commodities has the potential to increase.
Thursday, February 1, 2018
Export curbs fail to lift NR prices
Moves to curb natural rubber exports by the main producing countries seem to have had little positive impact on prices for the commodity – so far, at least.
Indeed, prices showed signs of weakening and even retreat during January, according to ERJ’s latest analysis of NR trading markets in the Far East.
This was despite the well-publicised plan by Indonesia, Malaysia and Thailand to jointly cut their NR exports by 350,000 tonnes over the first three month of 2018.
On the Shanghai Futures Exchange, prices for RU1805 – the most heavily traded NR future – stood at Yuan13,120/tonne on 31 Jan.
This was almost 7% lower than the Yuan14,105/tonne closing price recorded at the end of 2017.
Behind the January figures was a sharp reversal of an improvement on Chinese prices during the first half of the month: prices having reaching Yuan14,445/tonne on 15 Jan.
In Tokyo, meanwhile, TOCOM back-month prices for RSS3 materials showed a steady decline, closing at ¥204.1/kg on 24 Jan, compared to 206.7/kg on 29 Dec.
There was more positive news from Bangkok, where spot prices for RSS1 grades stood at $172.30/100kg on 31 Jan. This was up 5.5% above the 14 Dec closing price of $163.25/100kg.
Similarly, with a 5.6% increase, RSS3 grades closed at $168.65 at the end of January, against 159.70/100kg on 14 Dec.
However, there was again a mid-month peak: prices on the Thai exchange reaching $177.75/100kg for RSS1 and $174.15/100kg for RSS3 on 18 Jan.
In Kuala Lumpur, prices for SMR-20 were up 4.6% at $152.00/100kg on 30 Jan, compared to $145.25/100kg on 29 Dec.
Prices in Malaysia had risen to $155.10/100kg by 22 Jan before easing back towards the end of the month.
Latex spot prices in KL on 30 Jan also showed a mild improvement at $117.85/kg, up 1.9% compared to 115.60/kg on 29 Dec.
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