Overview of the hottest Tokyo rubber market 15

Tokyo futures market overview

Tokyo industrial products exchange (TOCOM) futures fell slightly on Thursday, as investors took profits after a sharp rise in the past week, and traders competed to reduce positions before the expiration of December contracts on Friday In fact, it will take the lead in the market, and the price is mostly unchanged. Although to adjusts or increases or decreases the sizing block under its base in developed countries and regions such as Europe and the United States, the main producing countries 1. The hardness tester itself will produce two kinds of errors: 1. The error caused by the deformation and movement of its parts; 2. The error caused by the hardness parameter exceeding the specified standard -- the heavy rainfall in Thailand is likely to help the rubber price rise The TOCOM index hit an intraday low of 220.3 yen per kilogram in May, ending 0.7 percent lower at 223.3 yen The contract hit a seven week high of 225.6 yen the previous trading day, but failed to rise further Since the contract fell to a low of 207.6 on December 14, it has risen nearly 9% in a week, so traders are cautious about large purchases A Japanese analyst said, "the market is slightly cautious about chasing rubber from the current price, because there are no obvious fundamental factors to support the rise in the past week." TOCOM may futures encountered technical resistance at the 100 day moving average of 227.3 yen It was on August 3 that the last time that the average value of this period rose above 100 days Traders are cautious about holding a large number of long positions, believing that if there is a large number of deliveries when the 12-month period expires on Friday, the price may fall accordingly However, strong crude oil prices still provide support for the period U.S. crude oil futures hit a three-month high above $64 a barrel on Wednesday and retreated some gains in Asian trading on Thursday as the market reduced concerns about the short-term impact of the decline in U.S. crude oil inventories and shipping delays in the U.S. Gulf In the spot rubber market, the heavy rain in the rubber producing area in southern Thailand interfered with the rubber cutting work, resulting in a reduction in domestic supply and an increase in latex prices Asian spot rubber prices remained basically unchanged on Thursday

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