TOCOM rubber futures rose 8 December, yen lower

Tokyo Commodity Exchange (TOCOM) rubber futures on Monday (December 8) rose more than 3 percent, hitting a high of the week and a half years, due to the weak yen.

TOCOM rubber futures contract prices in May rose 6.7 yen on Monday, reported 204.1 yen / kg (0016GMT), intraday highs since November 26, reported 205.2 yen / kg.

Cabinet Office on Monday (December 8th) released data show that Japan’s third-quarter GDP contraction of 1.9%, shrinking more than expected and the former value of assets due to breakdown of spending fell more than initial estimates.

Traders said weak demand for the impact of rubber prices, and the market is likely to continue downward, due to the world’s largest rubber producer Thailand may sell 200,000 tons of rubber stocks.

Rubber futures prices lower gum has forced many farmers to abandon the Indonesian rubber plantation, turned to other occupations, which could lead to natural rubber production declined. Meanwhile, the market is also currently awaiting Chinese trade data will be released today.

Asia City early Monday, the dollar against the yen is located seven high hovering near 121.63 yen.

The Nikkei 225 index rose 0.5 percent.

US crude oil futures prices fell more than $ 1 on Monday, fell to $ 65 / barrel below, due to the US payrolls data did not have a major impact on oil prices.

As at Beijing at 10:25 am on December 8, Tokyo rubber reported 199.3 yen / kg, up 0.96 percent.