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.
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