[Dow Jones] Tocom rubber futures settle lower as recent weakness in crude oil prices, bearish fundamentals, recent firmness in yen vs dollar weigh, says trader. Adds recent reports of market intervention plans by major producing countries may offer mild support, though strong gains unlikely due to sluggish consumption outlook; Tocom likely to stay in Y145-Y155 range in near term, barring fresh leads. Benchmark June RSS3 contract settles Y2.2 lower at Y150/kg after dipping to intraday low of Y144.7/kg in morning session. (ANJ)

Source:  Dow Jones

TOKYO, Jan 20 (Reuters) – Tokyo Commodity Exchange Inc has decided to extend trading hours of all derivatives contracts later this year to boost liquidity by inviting more foreign participants, its president said on Tuesday.

The extented trading hours will commence when Japan’s main commodity market launches upgraded trading systems, TOCOM President Masaaki Nangaku said at a regular news conference.

The exchange, on which gold, platinum, rubber and gasoline futures are heavily traded, plans to replace the slower, existing trading systems on May 7.

“Our purpose of extending trading hours is to increase liquidity, inspire more hedging needs and invite more participants from abroad,” Nangaku said.

TOCOM has struggled to boost trade for several years, in stark contrast with rivals overseas that have managed to lure investors seeking alternative assets, though the global financial crisis has dimmed interest in commodities.

Nangaku said Tadashi Ezaki, who in his last job as head of Shoko Chukin Bank prepared the state-backed bank’s privatisation, would join as special advisor this week to accelerate reforms of the recently demutualised exchange.

Turnover on the exchange stood at 41 million contracts in 2008, or 97.5 trillion yen in value. Trading volume was down more than 10 percent from 2007.

Currently, all TOCOM contracts start trading at 9:00 a.m. (0000 GMT) but halt trading for the lunch break between 11:00 a.m. (0200 GMT) and 12:30 p.m. (0330 GMT). The afternoon session ends at 5:30 p.m. (0830 GMT)

Under the new trading systems, TOCOM’s day session will start at 9:00 a.m. and end at 3:30 p.m, followed by a night session starting at 5:00 p.m., when Singapore’s over-the-counter market for oil and oil products opens.

The night session is for all contracts but rubber futures will end at 11:00 p.m. (1400 GMT). The extended hours would cover the full time zone of Asia and Europe, and partly overlap with trading hours in New York.

For trading in rubber futures contracts, the night session will end at 7:00 p.m. (1000 GMT). The contract is peculiar in terms of its customer base as Asian users account for 35 percent of its open interest, Nangaku said.

Source:  Reuters

TOKYO, Jan 19 (Reuters) – Key Tokyo rubber futures rose more than 1 percent to close above 150 yen on Monday, although losing some of the day’s gains due to oil’s decline.

* The key Tokyo Commodity Exchange rubber contract for June delivery <0#JRU:> closed at 152.2 yen per kg, up 1.8 yen or about 1.2 percent, after moving between 149.3 yen and 154.0 yen.

* The benchmark rubber contract has mostly been trading either side of 150 yen since the beginning of the year.

* Traders said TOCOM prices were likely to remain in ranges, although support levels appeared to be moving higher. A gloomy global economic outlook and weak demand continued to cap the market’s upside while players seek clues from currency and oil markets.

* U.S. light crude CLc1 fell more than 1 percent towards $36 a barrel on Monday in holiday-thinned trading, erasing some of the late gains made last week on short-covering, with worries about weakening oil demand resurfacing. [O/R]

* Thailand is expecting lower production of rice and rubber in 2009 as the coldest weather in 10 years affects yields, a senior Agriculture Ministry official said on Monday. [ID:nBKK258073]

* Traders say physical demand for rubber from China remains brisk ahead of the Lunar New Year, which begins on Jan. 26.

Source:  Reuters

BANGKOK, Jan 16 (Reuters) – Tokyo rubber futures rose to a
one-week high above 150 yen on Friday, but profit-taking limited
the rise.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for June delivery rose 5.5 yen, or 3.8 percent,
to settle at 150.4 yen ($1.67) per kg.
It rose as much as 6.3 percent to 154.0 yen, the highest
since Jan. 7, before profit-taking set in.
* TOCOM prices were expected to rise further next week after
the benchmark finished above the psychological level of 150 yen,
dealers said.
* Oil steadied above $35 a barrel on Friday after a 5 percent
fall overnight, although concern about the health of the global
economy and about fuel demand kept up the pressure on the market.
* The dollar recovered against the yen, inching up 1 percent
from late New York trade to 90 yen , which supported TOCOM
contracts. [FRX/]
* Traders say physical demand for rubber from China remains
brisk ahead of the Lunar New Year holiday, which begins on Jan.
26.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Feb) $1.55/kg +$0.05
Thai RSS3 (Mar) $1.55/kg +$0.05
Thai STR20 (Feb) $1.48/kg unchanged
Thai STR20 (Mar) $1.48/kg unchanged
Malaysia SMR20 (Feb) $1.48/kg unchanged
Malaysia SMR20 (Mar) $1.48/kg unchanged
Indonesia SIR20 (Feb) $0.67/lb unchanged
Indonesia SIR20 (Mar) $0.67/lb unchanged
Thai USS3 47 unchanged
Thai 60-percent latex (drums, Feb) $1,200 unchanged
Thai 60-percent latex (bulk, Feb) $1,100 unchanged
** NOTE – The prices quoted above are offer prices collected
from traders in Thailand, Indonesia and Malaysia. They are not
official prices quoted by state-run rubber agencies in those
countries.
($1=90.13 YEN)
($1=34.82 baht)

Source:  Reuters

BANGKOK, Jan 15 (Reuters) – Tokyo rubber futures dropped 2.6
percent on Thursday, tracking lower prices for oil and other
commodities.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for June delivery fell 3.9 yen, or 2.6 percent,
to end at 144.9 yen ($1.63) per kg.
* Oil fell $1 on Thursday to near $36 a barrel, extending an
overnight decline as grim data from the world’s major economies
and more bad news on the banking crisis further darkened the
outlook for global energy demand.
* Gold slipped on Thursday, matching a one-month low on
Wednesday, due to a weaker euro and falling stock markets, but a
rise in ETF holdings to a record high suggested bullion still
finds favour among investors.
* Automaker Chrysler LLC said on Wednesday it would not sell
off brands like Jeep or any U.S. assembly plants, but it hoped to
sell equipment used to make the once-popular PT Cruiser.
[ID:nN14474050]
* The International Rubber Study Group forecast that global
rubber consumption may drop as much as 5 percent in 2009 as the
auto industry took the brunt of a worsening global recession,
adding that demand may recover only in 2010.
* Traders say physical demand for rubber from China remains
brisk ahead of the Lunar New Year, which begins on Jan. 26.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH WEDNESDAY
Grade Price Change
Thai RSS3 (Feb) $1.50/kg -$0.05
Thai RSS3 (Mar) $1.50/kg -$0.05
Thai STR20 (Feb) $1.48/kg -$0.02
Thai STR20 (Mar) $1.48/kg -$0.02
Malaysia SMR20 (Feb) $1.48/kg unchanged
Malaysia SMR20 (Mar) $1.48/kg unchanged
Indonesia SIR20 (Feb) $0.67/lb unchanged
Indonesia SIR20 (Mar) $0.67/lb unchanged
Thai USS3 47 unchanged
Thai 60-percent latex (drums, Feb) $1,200 unchanged
Thai 60-percent latex (bulk, Feb) $1,100 unchanged
** NOTE – The prices quoted above are offer prices collected
from traders in Thailand, Indonesia and Malaysia. They are not
official prices quoted by state-run rubber agencies in those
countries.
($1=34.90 baht)
($1=89.07 Yen)

Source:  Reuters