Rubber prices managed to successfully close higher in trading today, Thursday (29/3/2018).
The price of rubber for delivery in September 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 1% or 1.80 points to 182 yen per kilogram (kg).
Previously, the price of rubber opened in the red zone down 0.17% or 0.30 points at the level of 179.90 yen per kg.
On Wednesday's trade (28/3) rubber price for September 2018 contract finished up 0.61% or 1.10 points at the level of 180.20 yen per kilogram (kg).
According to Kazuhiko Saito, an analyst at brokerage firm Fujitomi, a rally on the Nikkei following the impact of the weakening Japanese yen has pushed up rubber prices.
The Nikkei 225 index today closed up 0.61% or 127.77 points to 21,159.08, after posting a rebound as it opened up 1.04% or 219.65 points at 21,250.96.
Meanwhile, today's yen exchange rate was up 0.26% or 0.28 points to 106.57 yen per US dollar at 14.39 WIB.
"The Thai government's consideration of efforts to support prices is also a factor driving this commodity," Saito added, as quoted by Bloomberg.
Thai Vice Prime Minister Somkid Jatusripitak is reportedly instructing the agriculture and trade ministry and the Thai Rubber Authority to work with other key exporters to boost rubber prices.
On one occasion in Bangkok, Jatusripitak stated that the government is open to all options including buying rubber or stopping rubber tapping.
Thursday, March 29, 2018
Monday, March 26, 2018
Rubber Up 1% as Yen weakened and S-S Can Reach Agreement On Trade
The price of rubber rebounded and ended up more than 1% in today's trading on Monday (26/3/2018), as the weakening performance of Japanese yen currency potentially boosted demand.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.15% or 2 points to 176.50 yen per kilogram (kg).
Previously, the price of rubber opened with a 0.29% increase or 0.50 points at 175 yen per kg, after trading on Friday (23/3) was able to end 6.83% or 12.80 points at 174.50.
Meanwhile, the yen exchange rate was down 0.33% or 0.35 points to 105.08 per US dollar at 13:58 pm, having ended up 0.52% at 104.73 on Friday (23/3) .
Reported by Bloomberg, the yen weakened with US bonds after US Treasury Secretary Steven Mnuchin expressed optimism that the US could reach an agreement with China over trade tariffs. This optimism reduces the demand for safe-haven assets.
Japan's currency weakened against a basket of major currencies after The Wall Journal Street reported that China and the US are quietly beginning to negotiate to improve American access to the Chinese market, citing related sources.
"Mnuchin said he believes the US and China can reach an agreement on trade. It provides support for risky asset sentiment, "said David Forrester, a strategist at banking unit-investment and Credit Agricole corporation in Hong Kong. "Rising risk sentiment has led to a weaker yen," he added, as quoted by Bloomberg.
As is known, 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.
In line with the rubber, the Nikkei 225 index was able to book a rebound and ended up 0.72% or 148.24 points at 20,766.10, after opening with a weakening of 0.94% or 194.49 points at 20,423.37.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.15% or 2 points to 176.50 yen per kilogram (kg).
Previously, the price of rubber opened with a 0.29% increase or 0.50 points at 175 yen per kg, after trading on Friday (23/3) was able to end 6.83% or 12.80 points at 174.50.
Meanwhile, the yen exchange rate was down 0.33% or 0.35 points to 105.08 per US dollar at 13:58 pm, having ended up 0.52% at 104.73 on Friday (23/3) .
Reported by Bloomberg, the yen weakened with US bonds after US Treasury Secretary Steven Mnuchin expressed optimism that the US could reach an agreement with China over trade tariffs. This optimism reduces the demand for safe-haven assets.
Japan's currency weakened against a basket of major currencies after The Wall Journal Street reported that China and the US are quietly beginning to negotiate to improve American access to the Chinese market, citing related sources.
"Mnuchin said he believes the US and China can reach an agreement on trade. It provides support for risky asset sentiment, "said David Forrester, a strategist at banking unit-investment and Credit Agricole corporation in Hong Kong. "Rising risk sentiment has led to a weaker yen," he added, as quoted by Bloomberg.
As is known, 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.
In line with the rubber, the Nikkei 225 index was able to book a rebound and ended up 0.72% or 148.24 points at 20,766.10, after opening with a weakening of 0.94% or 194.49 points at 20,423.37.
Thursday, March 22, 2018
Trade War Between S-S, Rubber Price Hits Lowest Level
Rubber prices tumbled nearly six percent to a range of 170 levels in trading this morning, Friday (23/3/2018), amid heating up trade tensions between the United States (US) and China.
The price of rubber for August 2018 at the Tokyo Commodity Exchange (Tocom) dropped 5.98 percent or 11.20 points to 176.10 yen per kilogram (kg) at 1024 GMT.
Previously, rubber prices opened down 0.05% or 0.10 points at the level of 187.20 yen per kg, after trading on Thursday (22/3) able to end the rebound with a rise of 0.16% or 0.30 points in position 187.30.
According to Hideshi Matsunaga, an analyst at brokerage firm Sunward Trading, a sell-off hit rubber and other industrial commodities as trade pressure hit the US and China.
"It has raised fears of a trade war that could harm global economic growth," he said, as quoted by Bloomberg.
On Friday (23/3), hours after President Donald Trump instructed Trade Representative Robert Lighthizer to impose tariffs on at least US $ 50 billion worth of Chinese imports, the Commerce Ministry of China announced plans for a similar action.
When risky assets hit, the performance of the yen as a safe haven asset was boosted to the strongest level in more than a year.
The yen continued to appreciate 0.40% or 0.42 points to 104.86 per dollar at 10:30 am, after expiring 0.73 per cent at 105.28 in trading on Thursday.
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
"At the same time, the lack of agreement among rubber exporting countries to extend export restrictions beyond March also disappointed investors," added Matsunaga.
The price of rubber for August 2018 at the Tokyo Commodity Exchange (Tocom) dropped 5.98 percent or 11.20 points to 176.10 yen per kilogram (kg) at 1024 GMT.
Previously, rubber prices opened down 0.05% or 0.10 points at the level of 187.20 yen per kg, after trading on Thursday (22/3) able to end the rebound with a rise of 0.16% or 0.30 points in position 187.30.
According to Hideshi Matsunaga, an analyst at brokerage firm Sunward Trading, a sell-off hit rubber and other industrial commodities as trade pressure hit the US and China.
"It has raised fears of a trade war that could harm global economic growth," he said, as quoted by Bloomberg.
On Friday (23/3), hours after President Donald Trump instructed Trade Representative Robert Lighthizer to impose tariffs on at least US $ 50 billion worth of Chinese imports, the Commerce Ministry of China announced plans for a similar action.
When risky assets hit, the performance of the yen as a safe haven asset was boosted to the strongest level in more than a year.
The yen continued to appreciate 0.40% or 0.42 points to 104.86 per dollar at 10:30 am, after expiring 0.73 per cent at 105.28 in trading on Thursday.
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
"At the same time, the lack of agreement among rubber exporting countries to extend export restrictions beyond March also disappointed investors," added Matsunaga.
Two Factors Press Today's Rubber Price
Prices weakened in trading today, Thursday (22/3/2018), following rising rubber stocks in China and the strengthening of the yen.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.05% or 0.1 point to 186.90 yen per kilogram (kg) at 11:21 pm.
Previously, rubber prices rose 0.37% or 0.70 points to 187.70, after trading on Tuesday (20/3) closed down 2.09% to 187 yen per kg. Rubber is not traded on Wednesday (21/3) due to a national holiday in Japan.
According to Kazuhiko Saito, an analyst at Fujitomi brokerage in Tokyo, the weakening of rubber prices today is influenced by the strong yen exchange rate and the high level of reserves in China.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
Meanwhile, the yen appreciated 0.29% or 0.31 points to 105.74 yen per US dollar at 11:52 pm.
Tuesday, March 20, 2018
US-China Trade Tension Is Worrying, Rubber Price Fall
The price of rubber fell sharply and touched the range of 180 level in morning trading on Tuesday (20/3/2018), amid concerns about the trade tension of the United States (US) and China.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), slid 1.73% or 3.30 points to 187.70 yen per kilogram (kg) at 10:36 pm.
Previously, rubber prices opened down 0.05% or 0.10 points to 190.90 yen per kg, after trading on Monday (19/3) ended down 0.42% or 0.80 points at 191 position.
According to Gu Jiong, brokerage analyst Yutaka Shoji, fears that a trade tension between the US and China could affect commodity demand triggered a sell-off.
The Trump President Government is reportedly urging countries to ally with the United States against Chinese trade policies.
According to a European official, this urgency was waged in return for the US steel and aluminum tariff waivers.
"At the same time, an increase in China's rubber reserves also weighed on sentiment," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
On the other hand, the yen exchange rate was observed to weaken 0.17% or 0.18 points to 106.28 position per US dollar at 10:42 pm, after ending depreciating 0.08% at 106.10 position on Monday trading (19/3 ).
Meanwhile, West Texas Intermediate oil prices tracked a rebound and rose 0.32% or 0.20 points to as low as US $ 62.26 per barrel on the New York Mercantile Exchange at 10:15 pm.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), slid 1.73% or 3.30 points to 187.70 yen per kilogram (kg) at 10:36 pm.
Previously, rubber prices opened down 0.05% or 0.10 points to 190.90 yen per kg, after trading on Monday (19/3) ended down 0.42% or 0.80 points at 191 position.
According to Gu Jiong, brokerage analyst Yutaka Shoji, fears that a trade tension between the US and China could affect commodity demand triggered a sell-off.
The Trump President Government is reportedly urging countries to ally with the United States against Chinese trade policies.
According to a European official, this urgency was waged in return for the US steel and aluminum tariff waivers.
"At the same time, an increase in China's rubber reserves also weighed on sentiment," added Gu Jiong, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
On the other hand, the yen exchange rate was observed to weaken 0.17% or 0.18 points to 106.28 position per US dollar at 10:42 pm, after ending depreciating 0.08% at 106.10 position on Monday trading (19/3 ).
Meanwhile, West Texas Intermediate oil prices tracked a rebound and rose 0.32% or 0.20 points to as low as US $ 62.26 per barrel on the New York Mercantile Exchange at 10:15 pm.
Monday, March 19, 2018
Reserves in China Increase, Rubber Prices Closed Down 0.42%
Rubber prices closed lower in trading today, Monday (19/3/2018), due to depressed expansion of this commodity reserve in China.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.42% or 0.80 points to 191 yen per kilogram (kg).
Previously, rubber prices opened down 0.26% or 0.50 per cent at 190.30 yen per kg, after trading on Friday (16/3) ended down 1.74% or 3.40 points at 191.80 positions.
According to Masayo Kondo, President of Commodity Intelligence research company in Tokyo, an increase in the amount of rubber reserves has been pressing the price of this commodity.
"At the same time, the decline in car sales in China has sparked concerns if demand levels from the world's largest consumer country are likely to slow," Kondo said, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
Meanwhile, according to data from the China Association of Automobile Manufacturers, Chinese auto sales to dealers fell 9.6% (y / y) in February. Rubber raw materials are mainly used in the automotive industry for tires.
In addition to weighing on the rubber, the yen appreciated by 0.23% or 0.24 points to 105.77 per dollar at 14.38 Western Indonesia time, after expiring 0.31% appreciation at 106.01 on Friday (16/3). ).
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.42% or 0.80 points to 191 yen per kilogram (kg).
Previously, rubber prices opened down 0.26% or 0.50 per cent at 190.30 yen per kg, after trading on Friday (16/3) ended down 1.74% or 3.40 points at 191.80 positions.
According to Masayo Kondo, President of Commodity Intelligence research company in Tokyo, an increase in the amount of rubber reserves has been pressing the price of this commodity.
"At the same time, the decline in car sales in China has sparked concerns if demand levels from the world's largest consumer country are likely to slow," Kondo said, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
Meanwhile, according to data from the China Association of Automobile Manufacturers, Chinese auto sales to dealers fell 9.6% (y / y) in February. Rubber raw materials are mainly used in the automotive industry for tires.
In addition to weighing on the rubber, the yen appreciated by 0.23% or 0.24 points to 105.77 per dollar at 14.38 Western Indonesia time, after expiring 0.31% appreciation at 106.01 on Friday (16/3). ).
Sunday, March 18, 2018
Rubber Prices Go Down As Low Car Sales In China
Rubber price movements weakened in trading this morning, Monday (19/3/2018), due to depressed expansion of commodity reserves is accompanied by declining car sales in China.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.78% or 1.50 points to 190.30 yen per kilogram (kg) at 10:55 pm.
Previously, rubber prices opened down 0.26% or 0.50 per cent at 190.30 yen per kg, after trading on Friday (16/3) ended down 1.74% or 3.40 points at 191.80 positions.
According to Masayo Kondo, President of Commodity Intelligence research company in Tokyo, an increase in the amount of rubber reserves has been pressing the price of this commodity.
"At the same time, the decline in car sales in China has sparked concerns if demand levels from the world's largest consumer country are likely to slow," Kondo said, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
Meanwhile, according to data from the China Association of Automobile Manufacturers, Chinese auto sales to dealers fell 9.6% (y / y) in February. Rubber raw materials are mainly used in the automotive industry for tires.
Also weighing on rubber, the yen appreciated 0.20 percent or 0.21 points to 105.80 per dollar at 11.02 pm, after expiring 0.31 percent appreciation at 106.01 on Friday (16/3). ).
On the other hand, the price of West Texas Intermediate oil was also down 0.51% or 0.32 points to the level of US $ 62.02 per barrel on the New York Mercantile Exchange at 10:48 pm.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.78% or 1.50 points to 190.30 yen per kilogram (kg) at 10:55 pm.
Previously, rubber prices opened down 0.26% or 0.50 per cent at 190.30 yen per kg, after trading on Friday (16/3) ended down 1.74% or 3.40 points at 191.80 positions.
According to Masayo Kondo, President of Commodity Intelligence research company in Tokyo, an increase in the amount of rubber reserves has been pressing the price of this commodity.
"At the same time, the decline in car sales in China has sparked concerns if demand levels from the world's largest consumer country are likely to slow," Kondo said, as quoted by Bloomberg.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.1% to 438,248 tonnes last week, the highest level since November.
Meanwhile, according to data from the China Association of Automobile Manufacturers, Chinese auto sales to dealers fell 9.6% (y / y) in February. Rubber raw materials are mainly used in the automotive industry for tires.
Also weighing on rubber, the yen appreciated 0.20 percent or 0.21 points to 105.80 per dollar at 11.02 pm, after expiring 0.31 percent appreciation at 106.01 on Friday (16/3). ).
On the other hand, the price of West Texas Intermediate oil was also down 0.51% or 0.32 points to the level of US $ 62.02 per barrel on the New York Mercantile Exchange at 10:48 pm.
Friday, March 16, 2018
Rubber Price Drags As Political Uncertainty in the US
Rubber prices fell more than 1 percent in late trading today, Friday (16/3/2018), due to weighing the strengthening of the yen currency that has the potential to reduce demand.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 1.74% or 3.40 points at 191.80 yen per kilogram (kg).
Previously, rubber prices opened in the green zone with a slight rise of 0.05% or 0.1 point at 195.30 yen per kg, after trading on Thursday (15/3) ended up 0.26% or 0.5 points at position 195.2o.
According to analysts at Sunward Trading broker Hideshi Matsunaga, the stronger yen against the US dollar and rising rubber stocks in China have put pressure on commodity prices.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
Meanwhile, the yen appreciated 0.55% or 0.58 points to 105.76 per dollar at 14.42 pm, after finishing 0.01 per cent thin depreciation at 106.34 in trading on Thursday (15/3). ).
The performance of the yen as a safe haven asset was prompted by US President Donald Trump's plan to get rid of his national security adviser, H.R. McMaster.
The latest news sparked widespread concern about the future of the foreign policy of the Trump Administration.
Reports that Special Advisor Robert Mueller issued a summons to the Trump Organization raised concerns about political uncertainty in the United States.
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
"The current investor focus is on the rubber exporter's decision whether to extend the export restriction policy before it expires at the end of March," added Matsunaga, as quoted by Bloomberg.
The three largest rubber exporting countries, Thailand, Indonesia and Malaysia will meet after the export restriction policy ends on March 21 to decide whether the policy will continue.
Earlier, Thailand Rubber Authority Governor Titus Suksaard said the rubber export restrictions had gone ahead as planned.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 1.74% or 3.40 points at 191.80 yen per kilogram (kg).
Previously, rubber prices opened in the green zone with a slight rise of 0.05% or 0.1 point at 195.30 yen per kg, after trading on Thursday (15/3) ended up 0.26% or 0.5 points at position 195.2o.
According to analysts at Sunward Trading broker Hideshi Matsunaga, the stronger yen against the US dollar and rising rubber stocks in China have put pressure on commodity prices.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
Meanwhile, the yen appreciated 0.55% or 0.58 points to 105.76 per dollar at 14.42 pm, after finishing 0.01 per cent thin depreciation at 106.34 in trading on Thursday (15/3). ).
The performance of the yen as a safe haven asset was prompted by US President Donald Trump's plan to get rid of his national security adviser, H.R. McMaster.
The latest news sparked widespread concern about the future of the foreign policy of the Trump Administration.
Reports that Special Advisor Robert Mueller issued a summons to the Trump Organization raised concerns about political uncertainty in the United States.
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
"The current investor focus is on the rubber exporter's decision whether to extend the export restriction policy before it expires at the end of March," added Matsunaga, as quoted by Bloomberg.
The three largest rubber exporting countries, Thailand, Indonesia and Malaysia will meet after the export restriction policy ends on March 21 to decide whether the policy will continue.
Earlier, Thailand Rubber Authority Governor Titus Suksaard said the rubber export restrictions had gone ahead as planned.
Thursday, March 15, 2018
Stronger Yen Press Rubber Price
Rubber prices are depressed in the red zone in trading this afternoon, Friday (16/3/2018), amid pressure from the strengthening of the yen.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), was observed down 1.79% or 3.50 points to 191.70 yen per kilogram (kg) at 11:07 pm.
Previously, rubber prices opened up 0.05% or 0.1 point to 195.30 yen per kg, after yesterday's trade closed up 0.26% or 0.5 points at 195.2.
According to analysts at Sunward Trading broker Hideshi Matsunaga, the stronger yen against the US dollar and rising rubber stocks in China put pressure on commodity prices.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
"The current investor focus is on the decision of the rubber exporter whether to extend the export restriction policy before it expires at the end of March," Matsunaga said, as quoted by Bloomberg.
Meanwhile, the three largest rubber exporting countries, Thaliand, Indonesia and Malaysia, will meet after the export restriction policy ends on March 21 to decide whether the policy will continue.
Earlier, Thailand Rubber Authority Governor Titus Suksaard said the country's rubber export restrictions had proceeded as planned.
The yen exchange rate is currently up 0.42% or 0.45 points to the level of 105.89 per US dollar at 11:27 pm.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), was observed down 1.79% or 3.50 points to 191.70 yen per kilogram (kg) at 11:07 pm.
Previously, rubber prices opened up 0.05% or 0.1 point to 195.30 yen per kg, after yesterday's trade closed up 0.26% or 0.5 points at 195.2.
According to analysts at Sunward Trading broker Hideshi Matsunaga, the stronger yen against the US dollar and rising rubber stocks in China put pressure on commodity prices.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
"The current investor focus is on the decision of the rubber exporter whether to extend the export restriction policy before it expires at the end of March," Matsunaga said, as quoted by Bloomberg.
Meanwhile, the three largest rubber exporting countries, Thaliand, Indonesia and Malaysia, will meet after the export restriction policy ends on March 21 to decide whether the policy will continue.
Earlier, Thailand Rubber Authority Governor Titus Suksaard said the country's rubber export restrictions had proceeded as planned.
The yen exchange rate is currently up 0.42% or 0.45 points to the level of 105.89 per US dollar at 11:27 pm.
Speculation Extension Export Restrictions Encourage Rubber Prices to Rise
Rubber prices managed to extend gains in late trading on the second day in a row on Thursday (15/3/2018), supported by further support speculation to prop up prices.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed up 0.26% or 0.50 points at 195.20 yen per kilogram (kg).
Rubber had flushed when it opened down 0.36% or 0.70 points at 194 yen, after closing up 1.25% or 2.4 points at 194.70 in Wednesday's trading (14/3).
According to analysts at Fujitomi's commodity brokerage, Kazuhiko Saito, rubber prices are buoyed by speculation that Thailand may take additional measures to support prices.
Indonesia, Malaysia and Thailand joined the International Tripartite Rubber Council (ITRC), previously agreed to re-implement the Agreed Export Tonnage Scheme or rubber export restrictions in December to March 2018 to hoist the price of the commodity.
Titus Suksaard, Governor of the Thai Rubber Authority, said in Bangkok that rubber export restrictions are progressing as planned.
Committees from 3 countries are reported to be meeting after the program ends to discuss whether the restriction measures will be extended, taking into account the current running price. "Exporters may decide to extend export restrictions beyond March," Saito continued, as quoted by Bloomberg.
On the other hand, the yen appreciated to rise 0.20% or 0.21 points to 106.12 per dollar at 14.38 pm, after expiring 0.23% appreciation at 106.33 in Wednesday's trading (14/3 ).
Added by Saito, the price gains were limited as survival concerns about stock expansion in Japan and China.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed up 0.26% or 0.50 points at 195.20 yen per kilogram (kg).
Rubber had flushed when it opened down 0.36% or 0.70 points at 194 yen, after closing up 1.25% or 2.4 points at 194.70 in Wednesday's trading (14/3).
According to analysts at Fujitomi's commodity brokerage, Kazuhiko Saito, rubber prices are buoyed by speculation that Thailand may take additional measures to support prices.
Indonesia, Malaysia and Thailand joined the International Tripartite Rubber Council (ITRC), previously agreed to re-implement the Agreed Export Tonnage Scheme or rubber export restrictions in December to March 2018 to hoist the price of the commodity.
Titus Suksaard, Governor of the Thai Rubber Authority, said in Bangkok that rubber export restrictions are progressing as planned.
Committees from 3 countries are reported to be meeting after the program ends to discuss whether the restriction measures will be extended, taking into account the current running price. "Exporters may decide to extend export restrictions beyond March," Saito continued, as quoted by Bloomberg.
On the other hand, the yen appreciated to rise 0.20% or 0.21 points to 106.12 per dollar at 14.38 pm, after expiring 0.23% appreciation at 106.33 in Wednesday's trading (14/3 ).
Added by Saito, the price gains were limited as survival concerns about stock expansion in Japan and China.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
Wednesday, March 14, 2018
Rubber Price Turn up 0.21%
Rubber prices rebounded in trading this afternoon, Thursday (15/3/2018), after being depressed by the increase in rubber reserves in Japan and China.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), was observed turning up 0.21% or 0.4 point to 195.10 yen per kilogram (kg) at 10:31 pm.
In fact, the rubber opened up 0.36% or 0.7 points to 194 yen per kg and continue to move up to level 192.50 yen. In yesterday's trade, rubber closed up 1.25% or 2.4 points at 194.7 positions.
According to analysts at Fujitomi's commodity broker Kazuhiko Saito, the weakening rubber price was affected by rising reserves in Japan and China that raised concerns over global supply surplus.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
The yen exchange rate is currently up 0.27% or 0.29 points to 106.03 per US dollar at 11.00 WIB.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), was observed turning up 0.21% or 0.4 point to 195.10 yen per kilogram (kg) at 10:31 pm.
In fact, the rubber opened up 0.36% or 0.7 points to 194 yen per kg and continue to move up to level 192.50 yen. In yesterday's trade, rubber closed up 1.25% or 2.4 points at 194.7 positions.
According to analysts at Fujitomi's commodity broker Kazuhiko Saito, the weakening rubber price was affected by rising reserves in Japan and China that raised concerns over global supply surplus.
China's rubber reserves monitored by the Shanghai Futures Exchange rose 0.2% or 437.896 tons last week. The Japan Rubber Trading Association recorded that rubber inventories increased 2.2% to 15,206 metric tons.
The yen exchange rate is currently up 0.27% or 0.29 points to 106.03 per US dollar at 11.00 WIB.
Tuesday, March 13, 2018
China Economic Data Positive, Rubber Price Rebound
he price of rubber turned rebound on trading this afternoon, Wednesday (14/3/2018) sustained positive economic data China.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom) was observed 0.57%, or 1.1 points, to 193.40 yen per kilogram (kg) at 10:36 pm.
Earlier this morning, rubber also opened up 0.52% or 1 point to 193.30 yen, after closing in the red zone with 0.21% weakening or 0.4 point to 192.30 yen per kg on Tuesday (13 / 3).
Analysts from commodity broker Yutaka Shoji, Gu Jiong said today's strengthening of rubber prices is bolstered by China's economic data and strengthening crude oil prices.
Quoted from Bloomberg, China's industrial production and investment growth rates unexpectedly rose in the first two months of the year amid strong global demand.
Based on China National Bureau of Statistics data released today, industrial output rose 7.2% in February compared to the same month a year earlier, this figure is higher than the projection in a Bloomberg survey of 6.2%.
Meanwhile, retail sales rose 9.7% this month from a year earlier, slightly below forecasts of 9.8%, while fixed asset investment excluding rural households increased 7.9%.
Meanwhile, West Texas Intermediate oil prices were up 0.16 percent, or 0.1 point, to settle at $ 60.81 a barrel on the New York Mercantile Exchange at 11:03 pm.
The yen exchange rate is currently up 0.12% or 0.13 points to the level of 106.45 per US dollar at 11:16 pm.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom) was observed 0.57%, or 1.1 points, to 193.40 yen per kilogram (kg) at 10:36 pm.
Earlier this morning, rubber also opened up 0.52% or 1 point to 193.30 yen, after closing in the red zone with 0.21% weakening or 0.4 point to 192.30 yen per kg on Tuesday (13 / 3).
Analysts from commodity broker Yutaka Shoji, Gu Jiong said today's strengthening of rubber prices is bolstered by China's economic data and strengthening crude oil prices.
Quoted from Bloomberg, China's industrial production and investment growth rates unexpectedly rose in the first two months of the year amid strong global demand.
Based on China National Bureau of Statistics data released today, industrial output rose 7.2% in February compared to the same month a year earlier, this figure is higher than the projection in a Bloomberg survey of 6.2%.
Meanwhile, retail sales rose 9.7% this month from a year earlier, slightly below forecasts of 9.8%, while fixed asset investment excluding rural households increased 7.9%.
Meanwhile, West Texas Intermediate oil prices were up 0.16 percent, or 0.1 point, to settle at $ 60.81 a barrel on the New York Mercantile Exchange at 11:03 pm.
The yen exchange rate is currently up 0.12% or 0.13 points to the level of 106.45 per US dollar at 11:16 pm.
Rubber Prices Closed Down 0.21%
Rubber prices weakened in late trading today, Tuesday (13/3/2018), due to the impact of weakening of crude oil.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.21% or 0.40 points at 192.30 yen per kilogram (kg).
That morning the rubber opened in the red zone with a 0.16% decline or 0.3 points at 192.40 yen, after posting a rebound by ending up 1.53% or 2.90 points at 192.70 yen per kg on Monday (12/3).
Gu Jiong, commodity broker analyst Yutaka Shoji, said rubber prices weighed on crude oil prices. "Thus, investors are driven to let go of their positions amid concerns over an increase in rubber stocks," added Gu Jiong, as quoted by Bloomberg.
The rubber stocks monitored by the Shanghai Futures Exchange rose 0.2% to 437.896 tonnes last week, continuing to increase in the 15th consecutive week.
Meanwhile, WTI oil price contract in April 2018 was observed a slight increase of 0.02% or 0.01 point to US $ 61.37 per barrel at 14.13 WIB, after trading on Monday (12/3) ended down 1.1% 61.36.
On the other hand, the yen exchange rate was observed to weaken 0.40% or 0.43 points to 106.85 position per US dollar at 14.23 pm, after ending up 0.37% at 106.42 on Monday (12/3).
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.21% or 0.40 points at 192.30 yen per kilogram (kg).
That morning the rubber opened in the red zone with a 0.16% decline or 0.3 points at 192.40 yen, after posting a rebound by ending up 1.53% or 2.90 points at 192.70 yen per kg on Monday (12/3).
Gu Jiong, commodity broker analyst Yutaka Shoji, said rubber prices weighed on crude oil prices. "Thus, investors are driven to let go of their positions amid concerns over an increase in rubber stocks," added Gu Jiong, as quoted by Bloomberg.
The rubber stocks monitored by the Shanghai Futures Exchange rose 0.2% to 437.896 tonnes last week, continuing to increase in the 15th consecutive week.
Meanwhile, WTI oil price contract in April 2018 was observed a slight increase of 0.02% or 0.01 point to US $ 61.37 per barrel at 14.13 WIB, after trading on Monday (12/3) ended down 1.1% 61.36.
On the other hand, the yen exchange rate was observed to weaken 0.40% or 0.43 points to 106.85 position per US dollar at 14.23 pm, after ending up 0.37% at 106.42 on Monday (12/3).
Monday, March 12, 2018
Price Rubber Closed Rebound More than 1%
Rubber prices managed to rebound with a gain of more than 1% in late trading today, Monday (12/3/2018), amid optimism about the economy of the United States (US).
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.53% or 2.90 points at 192.70 yen per kilogram (kg).
Though the rubber had continued to weaken to the level of 189 after the morning was opened in the red zone with a decrease of 0.05% or 0.10 points in the position of 189.70.
On Friday (9/3/2018), the rubber ended down 0.99% or 1.90 points at 189.80, weakening for the third consecutive day.
Meanwhile, Japanese stocks managed to extend gains in late third day trading in a row, fueled by optimism surrounding the United States economy (US).
Electronics and automotive companies were the biggest boost to the Topix today after the S & P 500 gained 1.7 percent on Friday.
The release of US payroll data on Friday reassured investors that the US economy continued to strengthen without a rapid rise in wages in the previous month that could trigger inflation worries.
In February 2018, the number of US jobs increased by 313,000, topping forecasts for a gain of 205,000. The wage data shows the average hourly income increased 2.6% from the previous year or missed from the forecast of 2.8%.
According to Market Risk Advisory analyst Naohiro Niimura, US payroll data released Friday last week is strong enough, raising expectations that the economy of Uncle Sam's country will continue to rise. "The increase in stock indices also gave a positive sentiment to investors," he said, as quoted by Bloomberg.
Rubber is able to rebound even as the performance of the yen currency strengthens. The yen appreciated 0.16 percent, or 0.17 points, to 106.64 per dollar at 13:58 pm, after ending down 0.55 percent at 106.81 in Friday's trading (9/3).
In contrast to rubber, WTI oil price April 2018 contract slipped into the red zone and fell 0.13% or 0.08 points to US $ 61.96 per barrel at 13:49 pm, after trading on Friday (9/3) ended up 3.19% at position 62.04.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed up 1.53% or 2.90 points at 192.70 yen per kilogram (kg).
Though the rubber had continued to weaken to the level of 189 after the morning was opened in the red zone with a decrease of 0.05% or 0.10 points in the position of 189.70.
On Friday (9/3/2018), the rubber ended down 0.99% or 1.90 points at 189.80, weakening for the third consecutive day.
Meanwhile, Japanese stocks managed to extend gains in late third day trading in a row, fueled by optimism surrounding the United States economy (US).
Electronics and automotive companies were the biggest boost to the Topix today after the S & P 500 gained 1.7 percent on Friday.
The release of US payroll data on Friday reassured investors that the US economy continued to strengthen without a rapid rise in wages in the previous month that could trigger inflation worries.
In February 2018, the number of US jobs increased by 313,000, topping forecasts for a gain of 205,000. The wage data shows the average hourly income increased 2.6% from the previous year or missed from the forecast of 2.8%.
According to Market Risk Advisory analyst Naohiro Niimura, US payroll data released Friday last week is strong enough, raising expectations that the economy of Uncle Sam's country will continue to rise. "The increase in stock indices also gave a positive sentiment to investors," he said, as quoted by Bloomberg.
Rubber is able to rebound even as the performance of the yen currency strengthens. The yen appreciated 0.16 percent, or 0.17 points, to 106.64 per dollar at 13:58 pm, after ending down 0.55 percent at 106.81 in Friday's trading (9/3).
In contrast to rubber, WTI oil price April 2018 contract slipped into the red zone and fell 0.13% or 0.08 points to US $ 61.96 per barrel at 13:49 pm, after trading on Friday (9/3) ended up 3.19% at position 62.04.
Expectations on US Economic Recovery, Rubber Price Rebound
The price of rubber rebounded in trading this morning, Monday (12/3/2018), in line with rising expectations on the US economy.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom) was observed to rise 1.37% or 2.60 points to 192.40 yen per kilogram (kg) at 10:31 pm.
Earlier this morning the rubber opened weakened just 0.05% or 0.1 point to 189.70 yen level, after ending in the red zone with the weakening 0.99% or 1.90 points to the level of 189.80 yen per kg on Friday (9 / 3).
According to Market Risk Advisory analyst Naohiro Niimura, US payroll data released Friday last week is strong, raising expectations that the economy of USA will continue to rise.
"The increase in stock indices also gave a positive sentiment to investors," he said, as quoted by Bloomberg, Monday (12/3/2018).
Meanwhile, the yen appreciated to rise 0.19% or 0.20 points to 106.62 per dollar at 10:57 pm.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom) was observed to rise 1.37% or 2.60 points to 192.40 yen per kilogram (kg) at 10:31 pm.
Earlier this morning the rubber opened weakened just 0.05% or 0.1 point to 189.70 yen level, after ending in the red zone with the weakening 0.99% or 1.90 points to the level of 189.80 yen per kg on Friday (9 / 3).
According to Market Risk Advisory analyst Naohiro Niimura, US payroll data released Friday last week is strong, raising expectations that the economy of USA will continue to rise.
"The increase in stock indices also gave a positive sentiment to investors," he said, as quoted by Bloomberg, Monday (12/3/2018).
Meanwhile, the yen appreciated to rise 0.19% or 0.20 points to 106.62 per dollar at 10:57 pm.
Friday, March 9, 2018
Price of Rubber Drops Nearly 1%, Leave Level 190
The weakening of rubber prices continued at the end of the third day of consecutive trading on Friday (9/3/2018), which closed down about 1% amid concerns about high reserves.
The price of rubber for delivery in August 2018 at Tokyo Commodity Exchange (Tocom), closed down 0.99% or 1.90 points at the level of 189.80 yen per kilogram (kg).
This morning the rubber opened down 0.21% or 0.40 points at 191.30, after returning to end in the red zone despite a slight decline of 0.05% or 0.10 points at 191.70 yen per kg position on Thursday (8/3).
According to analysts of brokerage firm Yutaka Shoji, Gu Jiong, high inventories in China are pressing rubber prices in Shanghai. "The Tokyo rubber market is following a weakening in the Shanghai market, although limited by the yen's depreciation," added Gu Jiong, as quoted by Bloomberg.
The rubber stocks monitored by the Shanghai Futures Exchange rose 0.6% to 437.115 tonnes last week, gaining in the 14th consecutive week.
Meanwhile, the yen continued to weaken 0.45% or 0.48 points to 106.71 per dollar at 14.00 Western Indonesia Time, after expiring 0.15% depreciation at 106.23 in trading on Thursday (8/3). ).
In contrast to rubber, WTI's April 2018 oil price was observed up 0.13% or 0.08 point to US $ 60.20 per barrel at 13:51 pm, after trading on Thursday (8/3) ended down 1.68% at position 60.12.
Wednesday, March 7, 2018
Crude Oil Down, Rubber Price Melted
The price of rubber closed down more than 1% in trading today, Wednesday (7/3/2018), in line with the weakening of crude oil prices.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed down 1.13% or 2.20 points to 191.80 yen per kilogram (kg).
That morning the rubber opened with 0.52% weakening or 1 point at 193, after being able to end up 0.05% or 0.10 points at 194 yen per kg position in trading on Tuesday (6/3).
Meanwhile, the yen continued to appreciate 0.44% or 0.47 points to 105.66 per dollar at 14.28 pm. This morning the yen opened stagnant at 106.13, after ending up appreciating 0.07% or 0.07 points at 106.13 on Tuesday (6/3).
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
In line with rubber, WTI oil price contract in April 2018 was observed to weaken 0.80% or 0.50 points to US $ 62.1 per barrel at 14.16 WIB, after trading on Tuesday (6/3) ended up 0.05% 62.60.
WTI oil prices weakened after industry data showed US crude stocks rose more than expected last week. Quoted from Bloomberg, the American Petroleum Institute reported crude inventories rose by 5.66 million barrels last week.
The EIA also boosted US crude output forecasts for 2018 and 2019, and said output would reach 11 million barrels per day in October, a month earlier than previously estimated.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed down 1.13% or 2.20 points to 191.80 yen per kilogram (kg).
That morning the rubber opened with 0.52% weakening or 1 point at 193, after being able to end up 0.05% or 0.10 points at 194 yen per kg position in trading on Tuesday (6/3).
Meanwhile, the yen continued to appreciate 0.44% or 0.47 points to 105.66 per dollar at 14.28 pm. This morning the yen opened stagnant at 106.13, after ending up appreciating 0.07% or 0.07 points at 106.13 on Tuesday (6/3).
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
In line with rubber, WTI oil price contract in April 2018 was observed to weaken 0.80% or 0.50 points to US $ 62.1 per barrel at 14.16 WIB, after trading on Tuesday (6/3) ended up 0.05% 62.60.
WTI oil prices weakened after industry data showed US crude stocks rose more than expected last week. Quoted from Bloomberg, the American Petroleum Institute reported crude inventories rose by 5.66 million barrels last week.
The EIA also boosted US crude output forecasts for 2018 and 2019, and said output would reach 11 million barrels per day in October, a month earlier than previously estimated.
Tuesday, March 6, 2018
Yen Touch Level 105, Rubber Price Weaken Nearly 1%
The price of rubber weakened almost one percent in trading this afternoon, Wednesday (7/3/2018), when the performance of the Japanese yen continued to strengthen.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.93% or 1.80 points to 192.20 yen per kilogram (kg) at 11:22 pm.
That morning the rubber opened with 0.52% weakening or 1 point at 193, after being able to end up 0.05% or 0.10 points at 194 yen per kg position in trading on Tuesday (6/3).
Meanwhile, the yen continued to appreciate 0.46% or 0.49 points to 105.64 per dollar at 11:27 pm.
This morning the yen opened stagnant at 106.13, after ending up appreciating 0.07% or 0.07 points at 106.13 on Tuesday (6/3).
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
In line with rubber, WTI oil price contract in April 2018 was observed to weaken 0.77% or 0.48 points to US $ 62.12 per barrel at 11:17 pm, after trading on Tuesday (6/3) ended up 0.05% 62.60.
WTI oil prices weakened after industry data showed US crude stocks rose more than expected last week.
Reported by Bloomberg, the American Petroleum Institute reported crude oil inventories rose by 5.66 million barrels last week.
The EIA also boosted US crude output forecasts for 2018 and 2019, and said output would reach 11 million barrels per day in October, a month earlier than previously estimated.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.93% or 1.80 points to 192.20 yen per kilogram (kg) at 11:22 pm.
That morning the rubber opened with 0.52% weakening or 1 point at 193, after being able to end up 0.05% or 0.10 points at 194 yen per kg position in trading on Tuesday (6/3).
Meanwhile, the yen continued to appreciate 0.46% or 0.49 points to 105.64 per dollar at 11:27 pm.
This morning the yen opened stagnant at 106.13, after ending up appreciating 0.07% or 0.07 points at 106.13 on Tuesday (6/3).
As is known, the strengthening of the Japanese yen exchange rate against the US dollar makes the price of commodities traded in this currency to be relatively more expensive for overseas buyers. As a result, demand for these commodities has the potential to decline.
In line with rubber, WTI oil price contract in April 2018 was observed to weaken 0.77% or 0.48 points to US $ 62.12 per barrel at 11:17 pm, after trading on Tuesday (6/3) ended up 0.05% 62.60.
WTI oil prices weakened after industry data showed US crude stocks rose more than expected last week.
Reported by Bloomberg, the American Petroleum Institute reported crude oil inventories rose by 5.66 million barrels last week.
The EIA also boosted US crude output forecasts for 2018 and 2019, and said output would reach 11 million barrels per day in October, a month earlier than previously estimated.
Monday, March 5, 2018
Rubber Prices Fall, Demand Concerns
Rubber prices slipped into the red zone and moved down in trading this morning, Tuesday (6/3/2018), weighed down on concerns about demand levels.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.21% or 0.40 points to 193.50 yen per kilogram (kg) at 10.50 WIB.
Though the rubber had continued strengthening to 194.20 position after opening with a 0.05% increase or 0.10 points at 194 yen per kg position.
In trading Monday (5/3), rubber prices closed up 1.25% or 2.40 points at 193.90 yen per kg position.
According to Gu Jiong, an analyst from commodity broker Yutaka Shoji, concerns about sluggish demand in China have harmed market sentiment.
"But the price decline is limited by the strengthening of oil prices and the weakening performance of the yen currency," Gu Jiong continued, as quoted by Bloomberg.
WTI oil price in April 2018 contract continued to rise 0.21% or 0.13 points to US $ 62.70 per barrel at 10:50 pm, after trading Monday (5/3) ended up 2.16% at position 62.57 .
Meanwhile, the yen continued to weaken 0.15% or 0.16 points to 106.36 per US dollar at 11.00 WIB.
That morning the yen opened with a thin weakening of 0.01% at 106.21, after ending up appreciating 0.42% at position 106.20 on Monday trading (5/3).
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), fell 0.21% or 0.40 points to 193.50 yen per kilogram (kg) at 10.50 WIB.
Though the rubber had continued strengthening to 194.20 position after opening with a 0.05% increase or 0.10 points at 194 yen per kg position.
In trading Monday (5/3), rubber prices closed up 1.25% or 2.40 points at 193.90 yen per kg position.
According to Gu Jiong, an analyst from commodity broker Yutaka Shoji, concerns about sluggish demand in China have harmed market sentiment.
"But the price decline is limited by the strengthening of oil prices and the weakening performance of the yen currency," Gu Jiong continued, as quoted by Bloomberg.
WTI oil price in April 2018 contract continued to rise 0.21% or 0.13 points to US $ 62.70 per barrel at 10:50 pm, after trading Monday (5/3) ended up 2.16% at position 62.57 .
Meanwhile, the yen continued to weaken 0.15% or 0.16 points to 106.36 per US dollar at 11.00 WIB.
That morning the yen opened with a thin weakening of 0.01% at 106.21, after ending up appreciating 0.42% at position 106.20 on Monday trading (5/3).
Sunday, March 4, 2018
Thai Manufacturers Cut Production, Rubber Price Turned Stronger
Rubber prices moved higher in morning trading today, Monday (5/3/2018),
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 1.15% or 2.20 points to 193.70 yen per kg at 10:49 pm.
Earlier, the price of the August rubber contract opened 0.37 percent lower or 0.70 points in 190.80 yen per kg position, after trading last Friday (2/3) closed down 0.52 percent or 1 point at 191, 5 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the rebound in rubber prices today was driven by the strengthening of crude oil prices and rubber prices on the Shanghai commodities exchange.
"Step producer groups in Thailand to cut production further also helped support the price of rubber," he said, as quoted by Bloomberg, Monday (5/3/2018).
The price of West Texas Intermediate oil for April 2018 contract was up 0.49 percent to US $ 61.55 per barrel at 11:12 pm.
Meanwhile, today's yen exchange rate strengthened 0.16% or 0.17 points to 105.58 per US dollar at 11:25 pm.
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rebounded 1.15% or 2.20 points to 193.70 yen per kg at 10:49 pm.
Earlier, the price of the August rubber contract opened 0.37 percent lower or 0.70 points in 190.80 yen per kg position, after trading last Friday (2/3) closed down 0.52 percent or 1 point at 191, 5 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the rebound in rubber prices today was driven by the strengthening of crude oil prices and rubber prices on the Shanghai commodities exchange.
"Step producer groups in Thailand to cut production further also helped support the price of rubber," he said, as quoted by Bloomberg, Monday (5/3/2018).
The price of West Texas Intermediate oil for April 2018 contract was up 0.49 percent to US $ 61.55 per barrel at 11:12 pm.
Meanwhile, today's yen exchange rate strengthened 0.16% or 0.17 points to 105.58 per US dollar at 11:25 pm.
Friday, March 2, 2018
Rubber Price Continue under Pressure
Rubber prices ended lower on the second day of trading on Friday (2/3/2018), depressed by a number of negative sentiment.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed down 0.52% or 1 point at 191.50 yen per kilogram (kg).
Rubber had rebounded when it opened in the green zone with a 0.16% rise or 0.3 points at 192.80 yen per kg, after trading yesterday closed down 0.67% or 1.30 points at 192.50 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the sharp weakness of the Nikkei index and the continued appreciation of the yen continued to push down rubber commodity prices.
The Nikkei 225 index today ended down 2.50% or 542.83 points at 21,181.64 level. The Topix Japan Index posted its biggest drop in three weeks in late trading today.
Japanese stocks continued to slide on a third day in a row amid market concerns surrounding a potential trade war, triggered by the announcement of tariff plans for the import of steel and aluminum by US President Donald Trump on Thursday (1/3).
Meanwhile, the yen appreciated 0.31 percent or 0.33 points to 105.91 per dollar at 14.28 pm. This morning the yen opened stagnant at 106.24, after ending up appreciating 0.41% at 106.24 on Thursday (1/3).
The yen strengthened after Governor Haruhiko Kuroda of the Bank of Japan said the BOJ would consider how to get out of its massive monetary stimulus program around fiscal 2019.
"The weakening of crude oil prices also contributed to price pressures," Saito added, as quoted by Bloomberg.
WTI oil price contract in April 2018 continued to fall slightly 0.05% or 0.03 points to US $ 0.96 per barrel at 14:18 pm, after trading on Thursday (1/3) ended down 1.05% at position 60, 99.
In addition to overburdening rubber, the Japan Rubber Association noted that Japan's crude rubber reserves rose 1.5% as of 10 February 2018 to 14,956 metric tons, while rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tons last week.
The price of rubber for delivery in August 2018 on the Tokyo Commodity Exchange (Tocom), closed down 0.52% or 1 point at 191.50 yen per kilogram (kg).
Rubber had rebounded when it opened in the green zone with a 0.16% rise or 0.3 points at 192.80 yen per kg, after trading yesterday closed down 0.67% or 1.30 points at 192.50 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the sharp weakness of the Nikkei index and the continued appreciation of the yen continued to push down rubber commodity prices.
The Nikkei 225 index today ended down 2.50% or 542.83 points at 21,181.64 level. The Topix Japan Index posted its biggest drop in three weeks in late trading today.
Japanese stocks continued to slide on a third day in a row amid market concerns surrounding a potential trade war, triggered by the announcement of tariff plans for the import of steel and aluminum by US President Donald Trump on Thursday (1/3).
Meanwhile, the yen appreciated 0.31 percent or 0.33 points to 105.91 per dollar at 14.28 pm. This morning the yen opened stagnant at 106.24, after ending up appreciating 0.41% at 106.24 on Thursday (1/3).
The yen strengthened after Governor Haruhiko Kuroda of the Bank of Japan said the BOJ would consider how to get out of its massive monetary stimulus program around fiscal 2019.
"The weakening of crude oil prices also contributed to price pressures," Saito added, as quoted by Bloomberg.
WTI oil price contract in April 2018 continued to fall slightly 0.05% or 0.03 points to US $ 0.96 per barrel at 14:18 pm, after trading on Thursday (1/3) ended down 1.05% at position 60, 99.
In addition to overburdening rubber, the Japan Rubber Association noted that Japan's crude rubber reserves rose 1.5% as of 10 February 2018 to 14,956 metric tons, while rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tons last week.
Thursday, March 1, 2018
Three Factors Press Rubber Price Today
The price continued to weaken in trading on the second day, Friday (2/3/2018), depressed weakness of Nikkei index and strengthening of yen exchange rate.
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), fell 0.94% or 1.80 points to 190.70 yen per kilogram (kg) at 1043 WIB.
Earlier, the price of the August rubber contract opened up 0.16 percent or 0.3 points at 192.80 yen per kg, after yesterday's trading closed down 0.67 percent or 1.30 points at 192.80 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the sharp weakness of the Nikkei index and the strengthening of the yen exchange rate lowered the price of rubber commodities.
"The weakening of crude oil price also put pressure on price," he said, as quoted by Bloomberg, Friday (2/3/2018).
The Nikkei 225 index slid 2.72% or 590.47 points to 21,134 points at 10,33 WIB. The WTI oil price for April 2018 contract weakened 0.03 percent to US $ 60.97 per barrel.
Today's yen exchange rate is up 0.23% or 0.24 points to 106 position per US dollar at 11:04 pm.
Meanwhile, the Japan Rubber Association recorded that Japan's crude rubber reserves increased 1.5% on February 10, 2018 to 14,956 metric tons, while rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tons last
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), fell 0.94% or 1.80 points to 190.70 yen per kilogram (kg) at 1043 WIB.
Earlier, the price of the August rubber contract opened up 0.16 percent or 0.3 points at 192.80 yen per kg, after yesterday's trading closed down 0.67 percent or 1.30 points at 192.80 yen per kg.
Analysts from Fujitomi's commodity broker Kazuhiko Saito said the sharp weakness of the Nikkei index and the strengthening of the yen exchange rate lowered the price of rubber commodities.
"The weakening of crude oil price also put pressure on price," he said, as quoted by Bloomberg, Friday (2/3/2018).
The Nikkei 225 index slid 2.72% or 590.47 points to 21,134 points at 10,33 WIB. The WTI oil price for April 2018 contract weakened 0.03 percent to US $ 60.97 per barrel.
Today's yen exchange rate is up 0.23% or 0.24 points to 106 position per US dollar at 11:04 pm.
Meanwhile, the Japan Rubber Association recorded that Japan's crude rubber reserves increased 1.5% on February 10, 2018 to 14,956 metric tons, while rubber stocks monitored by the Shanghai Futures Exchange increased 0.1% to 434,550 tons last
Surplus Supply, Rubber Price Not Tightened
Rubber prices fell after a two-day stagnant finish in previous trading, pressured by rising global reserves and expectations of a surplus this year.
At the close of trading Thursday (1/3/2018), the price of last contract rubber in August 2018 at Tokyo Commodity Exchange (Tocom) closed down 1.30 points or 0.67% to 192.50 yen per kilogram (kg). Year to date (ytd), the price weakened 5.73%.
Earlier, the price of rubber opened in the red zone with a 0.21% decline at 193.40, after stagnating at 193.80 yen per kg on Wednesday (28/2).
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 Thursday (1/3), Japan's raw rubber reserves increased 1.5 percent per February 10, 2018 to 14,956 tons.
Meanwhile, rubber stocks monitored by the Shanghai Futures Exchange (SHFE) rose 0.1% to 434,550 tonnes last week, a 13th consecutive weekly gain.
Central Capital Futures analyst Wahyu T. Laksono said the weakening of rubber prices was triggered by a growing supply that raised concerns that global rubber production grew at a faster pace than demand.
"This is not apart from the role of the world's largest producer countries that are incorporated in the International Tripartite Rubber Council (ITRC), namely Thailand, Indonesia, and Malaysia," said Wahyu to Bisnis recently.
In December last year, the three countries contributing up to 70% of the total global production have agreed to apply the concept of Agreed Export Tonnage Scheme (AETS) or 350,000 tons of rubber export restrictions lasting 3 months from January to March 2018.
In 2018, world rubber demand is projected to increase by 2.3 percent to 12.4 million tons, while supply is predicted to reach 12.5 million tons, up 3 percent from last year.
"It is estimated that in the first quarter of 2018, rubber prices moved in the range of 153.20 yen-206.10 yen per kilogram."
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