Rubber prices closed higher in late trading today, Wednesday (27/06/2018), following the strengthening of crude oil prices.
The price of rubber for delivery in November 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), closed up 0.82% or 1.4 points to 172.90 yen per kilogram.
The previous rubber price opened in the green zone with a rise of 0.82% or 1.4 points at 172.90, after closing stagnant at 171.50 level at the end of trading Tuesday (26/6/2018).
Takaki Shigemoto, an analyst at JSC in Tokyo, said that the strengthening of rubber prices was triggered by increased investor interest in this commodity as the strengthening of oil prices triggered the cost of making synthetic rubber substitute products.
"Prices are also higher because the contract is considered too cheap, amid the high supply and demand fundamentals," said Takaki, as quoted by Bloomberg.
The price of West Texas Intermediate (WTI) oil for August 2018 contract rose 0.34% or 0.34 points to as low as US $ 70.77 per barrel at 14:57 pm, while Brent oil for the same month delivery contract was up 0.47% to the level of US $ 76.67 per barrel.
Meanwhile, the yen appreciated to rise 0.26% or 0.29 points to 109.77 yen per dollar at 15.13.
Wednesday, June 27, 2018
Friday, June 8, 2018
Worries of over rising supply, NR prices fall down
Rubber prices shed more than 1% in late trading today, Friday (8/6/2018), amid concerns over rising supply from Thailand.
The price of rubber for delivery in November 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.90% or 3.60 points at 186.10 yen per kilogram (kg).
This morning the main commodity price of tire manufacturing was opened flat at 189.70, after ending up 0.85% or 1.60 points on trading Thursday (7/6/2018).
According to Hideshi Matsunaga, Sunward Trading analyst, as rubber supply from Thailand increased after a low production season ended last month, the amount of rubber stocks could continue to rise.
The amount of rubber stocks monitored by the Shanghai Futures Exchange reported rose 0.3% to 475,132 tons last week, the highest level since November.
"Rubber prices are also limited concerns that a trade tension with the United States could push the Japanese currency against the US dollar, thus making rubber [Tocom] prices more expensive for foreign investors," Matsunaga added.
The yen continued to appreciate 0.15 percent, or 0.16 points, to 109.54 per dollar at 13:52 pm, after ending up 0.44 percent or 0.48 points at 109.70 late Thursday / 6).
Quoted by Bloomberg, the yen extended its gains amid global trade tensions ahead of the G7 Summit and concerns over growing instability in some emerging market currencies.
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, West Texas Intermediate (WTI) oil prices for July delivery in July 2018 slid and fell 0.49% or 0.32 points to settle at $ 65.63 a barrel on the New York Mercantile Exchange at 13:41 pm.
The price of rubber for delivery in November 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.90% or 3.60 points at 186.10 yen per kilogram (kg).
This morning the main commodity price of tire manufacturing was opened flat at 189.70, after ending up 0.85% or 1.60 points on trading Thursday (7/6/2018).
According to Hideshi Matsunaga, Sunward Trading analyst, as rubber supply from Thailand increased after a low production season ended last month, the amount of rubber stocks could continue to rise.
The amount of rubber stocks monitored by the Shanghai Futures Exchange reported rose 0.3% to 475,132 tons last week, the highest level since November.
"Rubber prices are also limited concerns that a trade tension with the United States could push the Japanese currency against the US dollar, thus making rubber [Tocom] prices more expensive for foreign investors," Matsunaga added.
The yen continued to appreciate 0.15 percent, or 0.16 points, to 109.54 per dollar at 13:52 pm, after ending up 0.44 percent or 0.48 points at 109.70 late Thursday / 6).
Quoted by Bloomberg, the yen extended its gains amid global trade tensions ahead of the G7 Summit and concerns over growing instability in some emerging market currencies.
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, West Texas Intermediate (WTI) oil prices for July delivery in July 2018 slid and fell 0.49% or 0.32 points to settle at $ 65.63 a barrel on the New York Mercantile Exchange at 13:41 pm.
Wednesday, May 23, 2018
Worries of lower demand, NR price falls down
Rubber prices continued the correction and shed more than 1% in late trading today, Wednesday (5/23/2018), weighed down by worries of lower demand.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.26% or 2.50 points at 196.50 yen per kilogram (kg).
In fact, the main commodity price of the tire maker had moved in the green zone when it opened with a 0.10% rise or 0.20 point at 199.20, after ending down 0.50% or 1 point at 199 levels on Tuesday 22/5). Throughout today's trading, rubber prices are moving at the level of 194.90-199.90.
According to Takaki Shigemoto, analyst of research firm JSC, trimming car import tariffs by the Chinese government raises concerns that automotive production in China may decline.
"Thus, it could weaken the demand for rubber from local tire manufacturers," Shigemoto said, as quoted by Bloomberg.
As it is known, Chinese Finance Minister Liu Kun on Tuesday (22/5) said it plans to reduce the tax levy on import tax of vehicles to 15% from 25%. The move will take effect from 1 July.
At the time, the amount of rubber stocks monitored by the Shanghai Futures Exchange rose 2.8% to 470,374 tons last week, the highest level since November.
Not only that, added Shigemoto, the prospect of a higher supply from Thailand also weighed on rubber prices, as it will end the low production season in the country this month.
Rubber prices also weighed on the continued appreciation of the yen. The yen today tracked up 0.47%, or 0.52 point, to 110.38 per dollar at 13:52 pm, after expiring 0.14 per cent or 0.15 points at 110.90 on Tuesday ( 22/5).
In line with rubber, West Texas Intermediate (WTI) oil price for July 2018 futures advanced further down 0.28% or 0.20 points to U $ 72 per barrel position on the New York Mercantile Exchange at 13:42 pm.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 1.26% or 2.50 points at 196.50 yen per kilogram (kg).
In fact, the main commodity price of the tire maker had moved in the green zone when it opened with a 0.10% rise or 0.20 point at 199.20, after ending down 0.50% or 1 point at 199 levels on Tuesday 22/5). Throughout today's trading, rubber prices are moving at the level of 194.90-199.90.
According to Takaki Shigemoto, analyst of research firm JSC, trimming car import tariffs by the Chinese government raises concerns that automotive production in China may decline.
"Thus, it could weaken the demand for rubber from local tire manufacturers," Shigemoto said, as quoted by Bloomberg.
As it is known, Chinese Finance Minister Liu Kun on Tuesday (22/5) said it plans to reduce the tax levy on import tax of vehicles to 15% from 25%. The move will take effect from 1 July.
At the time, the amount of rubber stocks monitored by the Shanghai Futures Exchange rose 2.8% to 470,374 tons last week, the highest level since November.
Not only that, added Shigemoto, the prospect of a higher supply from Thailand also weighed on rubber prices, as it will end the low production season in the country this month.
Rubber prices also weighed on the continued appreciation of the yen. The yen today tracked up 0.47%, or 0.52 point, to 110.38 per dollar at 13:52 pm, after expiring 0.14 per cent or 0.15 points at 110.90 on Tuesday ( 22/5).
In line with rubber, West Texas Intermediate (WTI) oil price for July 2018 futures advanced further down 0.28% or 0.20 points to U $ 72 per barrel position on the New York Mercantile Exchange at 13:42 pm.
Tuesday, May 22, 2018
Rubber Price Slips from Highest Level
Rubber prices slipped into the red zone at the end of trading today, Tuesday (05/22/2018), snapping a four-day rally of previous trading rallies.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 0.50% or 1 point at 199 yen per kilogram (kg).
In fact, the commodity price of the main material making this tire could continue to strengthen when opened with a 0.30% increase or 0.60 points at 200.60 position.
On Monday, rubber gained 3.15 percent or 6.10 points to 200, the highest level of all-time contracts.
Kei Kobashi, an analyst at Sumitomo Corp., said rubber prices slipped after a rally in Monday's trading seen excessive, considering a number of fundamentals for rubber.
According to Lekshmi Nair, head of economics and statistics at the International Rubber Study Group, global natural rubber production could rise 2% by 2018 from an estimated 13.55 million tonnes for 2017.
Total consumption, including synthetic rubber, could rise 3.2% from an estimated 28.47 million tonnes for 2017.
Also weighing on rubber moves is the end of a low production season in Thailand this month. The previous rubber rally was supported by a low production season until May in Thailand.
Meanwhile, the yen today was observed to depreciate slightly 0.05% or 0.06 point to 111.11 per dollar at 14.33 WIB, after ending down 0.26% or 0.29 point at 111.05 on Monday trading (21/5).
On the other hand, West Texas Intermediate (WTI) oil prices for June 2018 shipment advanced 0.54% or 0.39 points to $ 72.63 a barrel on the New York Mercantile Exchange at 14:22 pm.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed down 0.50% or 1 point at 199 yen per kilogram (kg).
In fact, the commodity price of the main material making this tire could continue to strengthen when opened with a 0.30% increase or 0.60 points at 200.60 position.
On Monday, rubber gained 3.15 percent or 6.10 points to 200, the highest level of all-time contracts.
Kei Kobashi, an analyst at Sumitomo Corp., said rubber prices slipped after a rally in Monday's trading seen excessive, considering a number of fundamentals for rubber.
According to Lekshmi Nair, head of economics and statistics at the International Rubber Study Group, global natural rubber production could rise 2% by 2018 from an estimated 13.55 million tonnes for 2017.
Total consumption, including synthetic rubber, could rise 3.2% from an estimated 28.47 million tonnes for 2017.
Also weighing on rubber moves is the end of a low production season in Thailand this month. The previous rubber rally was supported by a low production season until May in Thailand.
Meanwhile, the yen today was observed to depreciate slightly 0.05% or 0.06 point to 111.11 per dollar at 14.33 WIB, after ending down 0.26% or 0.29 point at 111.05 on Monday trading (21/5).
On the other hand, West Texas Intermediate (WTI) oil prices for June 2018 shipment advanced 0.54% or 0.39 points to $ 72.63 a barrel on the New York Mercantile Exchange at 14:22 pm.
Monday, May 21, 2018
RUBBER PRICE Touchs the Highest Level
Rubber price rally continued at the end of the fourth consecutive day of trading on Monday (21/05/2018), as the weakening performance of the Japanese yen currency.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 3.15 percent or 6.10 points at 200 yen per kilogram (kg), the highest level of all-time contracts.
This morning, the main commodity price of tire manufacture opened with a 0.31% rise or 0.60 points at 194.50, after ending up 2.11% or 4 points at 193.90 level on Friday (18/5) .
Meanwhile, today's yen exchange rate was down 0.55% or 0.61 points to 111.37 per US dollar at 13.46 WIB, after expiring slightly 0.01% or 0.01 points at the level of 110.76 on Friday trading (18/5).
"Rubber stocks were buoyed by buying as fears surrounding China's economy have eased after the United States and China agreed to suspend the potential for trade war," Gu Jiong, an analyst with Yutaka Shoji, told Bloomberg.
According to a report by Xinhua News Agency quoted by Bloomberg on Sunday (20/05/2018), Chinese Vice Premier Liu He as China's special envoy Xi Xiping to Washington stated talks with US officials including US Treasury Secretary Steven Mnuchin, US Commerce Minister Wilbur Ross , and US Trade Representative (USTR) Robert Lighthizer, ended with a decision not to trigger a trade war.
"The weakening yen against the US dollar also makes the yen-denominated futures market more affordable for foreign investors," said Gu.
The strengthening of rubber, he added, was also supported by Thai rubber prices that remained strong in the middle of a low production season until May.
In line with rubber, West Texas Intermediate (WTI) oil prices for June delivery rose 0.70% or 0.50 points to $ 71.78 a barrel on the New York Mercantile Exchange at 1336 GMT.
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 3.15 percent or 6.10 points at 200 yen per kilogram (kg), the highest level of all-time contracts.
This morning, the main commodity price of tire manufacture opened with a 0.31% rise or 0.60 points at 194.50, after ending up 2.11% or 4 points at 193.90 level on Friday (18/5) .
Meanwhile, today's yen exchange rate was down 0.55% or 0.61 points to 111.37 per US dollar at 13.46 WIB, after expiring slightly 0.01% or 0.01 points at the level of 110.76 on Friday trading (18/5).
"Rubber stocks were buoyed by buying as fears surrounding China's economy have eased after the United States and China agreed to suspend the potential for trade war," Gu Jiong, an analyst with Yutaka Shoji, told Bloomberg.
According to a report by Xinhua News Agency quoted by Bloomberg on Sunday (20/05/2018), Chinese Vice Premier Liu He as China's special envoy Xi Xiping to Washington stated talks with US officials including US Treasury Secretary Steven Mnuchin, US Commerce Minister Wilbur Ross , and US Trade Representative (USTR) Robert Lighthizer, ended with a decision not to trigger a trade war.
"The weakening yen against the US dollar also makes the yen-denominated futures market more affordable for foreign investors," said Gu.
The strengthening of rubber, he added, was also supported by Thai rubber prices that remained strong in the middle of a low production season until May.
In line with rubber, West Texas Intermediate (WTI) oil prices for June delivery rose 0.70% or 0.50 points to $ 71.78 a barrel on the New York Mercantile Exchange at 1336 GMT.
Sunday, May 20, 2018
TOCOM rubber climbed about 1.8%, Sino-US stop trade war to provide.
Tokyo futures price rose on Monday as support was provided by the suspension of trade wars between the United States and China.
Tokyo Commodity Exchange (TOCOM) rubber futures contract for October rose 3.4 yen to 197.3 yen per kilogram.
Earlier in the day, the contract touched a nearly four-month high of 198.5 yen per kilogram.
Shanghai Futures Exchange main contract rubber 1809 contract rose 1.20% to 11,840 yuan per ton.
U.S. dollar was reported at 110.97 yen against the Japanese yen and about 110.92 yen on Friday afternoon.
Crude oil futures ended lower on Friday, suffering from investor profit-taking, but Brent crude recorded a weekly gain for the sixth week in a row, helped by a sharp drop in production in Venezuela, strong global demand and the United States may impose sanctions on Iran.
Japan's Nikkei rose 0.1%.
Tokyo Commodity Exchange (TOCOM) rubber futures contract for October rose 3.4 yen to 197.3 yen per kilogram.
Earlier in the day, the contract touched a nearly four-month high of 198.5 yen per kilogram.
Shanghai Futures Exchange main contract rubber 1809 contract rose 1.20% to 11,840 yuan per ton.
U.S. dollar was reported at 110.97 yen against the Japanese yen and about 110.92 yen on Friday afternoon.
Crude oil futures ended lower on Friday, suffering from investor profit-taking, but Brent crude recorded a weekly gain for the sixth week in a row, helped by a sharp drop in production in Venezuela, strong global demand and the United States may impose sanctions on Iran.
Japan's Nikkei rose 0.1%.
Friday, May 18, 2018
Yen Weakens,Crude Oil Price Up, Sino-US Talks, Rubber Strengthens Three Days
Rubber prices closed higher in late trading on third day in a row on Friday (18/05/2018).
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 2.11% or 4 points to 193.9 yen per kilogram (kg).
Earlier, commodity prices also opened in the red zone with a weakening 0.21% or 0.4 points at 189.5, after ending up 0.74% or 1.4 points to 189.9 level on Thursday trading (17 / 5/2018).
Takaki Shigemoto, an analyst at JSC, said investors' interest in rubber commodities increased following the weakening of the yen, which makes commodities more affordable for foreign investors.
"The crude oil price rally has also increased speculation that the price of synthetic rubber will increase," Takaki said, as quoted by Bloomberg, Friday (18/05/2018).
He continued, the focus of the market is on whether China's rubber reserves will continue to increase, as production in the Yunnan and Hainan regions is on the rise as weather supports.
The price of West Texas Intermediate (WTI) oil for June 2018 contract rose 0.14% or 0.1 point to as low as US $ 71.59 per barrel at 14:25 pm. The global benchmark oil, Brent, was observed rising 0.24% to US $ 79.49 per barrel.
The yen today tracked down 0.07% or 0.08 points to 110.85 yen per dollar at 14.39 pm
The price of rubber for delivery in October 2018, the most active contract on the Tokyo Commodity Exchange (Tocom), closed up 2.11% or 4 points to 193.9 yen per kilogram (kg).
Earlier, commodity prices also opened in the red zone with a weakening 0.21% or 0.4 points at 189.5, after ending up 0.74% or 1.4 points to 189.9 level on Thursday trading (17 / 5/2018).
Takaki Shigemoto, an analyst at JSC, said investors' interest in rubber commodities increased following the weakening of the yen, which makes commodities more affordable for foreign investors.
"The crude oil price rally has also increased speculation that the price of synthetic rubber will increase," Takaki said, as quoted by Bloomberg, Friday (18/05/2018).
He continued, the focus of the market is on whether China's rubber reserves will continue to increase, as production in the Yunnan and Hainan regions is on the rise as weather supports.
The price of West Texas Intermediate (WTI) oil for June 2018 contract rose 0.14% or 0.1 point to as low as US $ 71.59 per barrel at 14:25 pm. The global benchmark oil, Brent, was observed rising 0.24% to US $ 79.49 per barrel.
The yen today tracked down 0.07% or 0.08 points to 110.85 yen per dollar at 14.39 pm
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