Tokyo futures steady ahead of near-term contract's expiration

Benchmark TOCOM rubber futures were steady on Thursday, with investors making position adjustments ahead of the near-term contract's expiration on Friday.

FUNDAMENTALS

* The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery was unchanged at 215.8 yen ($1.98) per kg as of 0033 GMT, after falling 0.7 yen the previous day. The TOCOM's August contract is due to expire on Friday.

* The most-active rubber contract on the Shanghai futures exchange for January delivery eased 25 yuan to 16,460 yuan ($2,473) per tonne in a night trade.

* China's imports of natural rubber rose 0.82 percent in July from a year earlier, according to official customs data.

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MARKET NEWS

* The U.S. dollar was quoted around 109.01 yen in early Thursday trade in Asia after falling 0.5 percent to 108.97 yen the previous day.

* Japan's benchmark Nikkei stock average was down 0.2 percent on Thursday after Wall Street slid the previous day.

* Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and as a storm approached the Gulf Coast with the potential to disrupt oil and refined products output.

* Nickel prices surged to an eight-month high on Wednesday on expectations of strong demand from top consumer China, supply concerns and declining stockpiles.

DATA/EVENTS (GMT)

* The following data is expected on Thursday: (Time in GMT)

0645 France Business climate Aug

0830 Britain GDP 2nd release Q2

1230 U.S. Weekly jobless claims

1400 U.S. Existing home sales Jul

($1 = 109.0100 yen) ($1 = 6.6569 Chinese yuan renminbi)