July 29, 2019 / 11:12 AM / 4 months ago

RUBBER-TOCOM slides on weaker Shanghai, pessimism over trade talks

TOKYO, July 29 (Reuters) -

* Tokyo Commodity Exchange (TOCOM) rubber futures slid on Monday, tracking losses in Shanghai futures and amid pessimism over U.S.-Sino trade negotiations.

* The benchmark TOCOM rubber contract for January delivery finished 2.4 yen, or 1.3%, lower at 181.0 yen ($1.67) per kg.

* The most active rubber contract on the Shanghai futures exchange for September delivery rose 120 yuan to finish at 10,685 yuan ($1,550) per tonne.

* U.S. and Chinese negotiators meet this week for the first time since trade talks broke down in May, but expectations are low after President Donald Trump said China might not want to sign a trade deal until after the 2020 U.S. election.

* Oil prices weakened on Monday amid pessimism over the U.S.-China trade talks and the prospect of slower economic growth globally that could reduce demand for crude.

* Japan’s benchmark Nikkei stock average fell on Monday on profit-taking in otherwise subdued trading, as investors showed caution ahead of corporate earnings and this week’s Bank of Japan and U.S. Federal Reserve policy decisions.

* Goodyear Tire & Rubber Co reported lower-than-expected Q2 profit and revenue and cut its 2019 shipment outlook, hurt by a fall in global auto production.

* The U.S. dollar was quoted around 108.65 yen, little changed from around 108.63 yen on Friday afternoon

* TOCOM’s technically specified rubber (TSR) 20 futures contract for January delivery closed unchanged at 153.3 yen per kg, remaining at the same level week-on-week.

* The front-month rubber contract on Singapore’s SICOM exchange for August delivery last traded at 138.1 U.S. cents per kg, down 1.6%. ($1 = 108.6500 yen) ($1 = 6.8923 Chinese yuan renminbi) (Reporting by Yuka Obayashi; Editing by Jan Harvey)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below