Tokyo futures hover near 1-week low on strong yen
Benchmark TOCOM rubber futures hovered near their lowest in a week on Monday, pressured by a stronger yen against the dollar.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for February delivery was unchanged at 226 yen per kg at 0000 GMT, after settling down 2.2 percent on Friday.
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MARKET NEWS
* U.S. crude prices tumbled more than 3 percent on Friday on worries that energy demand would be hit hard as Hurricane Irma, one of the most powerful storms in a century, headed toward Florida and the Southeast.
* The U.S. dollar was quoted around 108.28 yen, compared with around 107.76 yen on Friday afternoon.
* Japan's benchmark Nikkei stock average was up 1.2 percent.
* Copper slumped on Friday on profit-taking as analysts said a 20-percent price surge since June was not justified given China's copper imports had only been stable for the past four months.
DATA/EVENTS (GMT)
* No major data or event is scheduled for Monday.
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
