TOKYO, Oct 27 (Reuters) – Key Tokyo rubber futures were little changed on Tuesday after bargain hunters helped the market recover earlier losses made on weaknesses in other commodities such as gold and oil.
* The most active Tokyo Commodity Exchange rubber contract for March delivery <0#JRU:> fell 0.1 percent to 230.5 yen per kg, or down 0.3 yen from the previous settlement.
* The contract rose as high as 235.7 yen on Friday, the highest for any benchmark since October 2008, when technical buying related to Monday’s expiry of the October contract helped push up prices.
* The newly listed April contract, which debuted on Tuesday, stood at 230.7 yen in late Tuesday trading.
* The April contract fell to a low of 228 yen in early trade, weighed down by oil’s extended losses and gold’s drop to a three-week low. But the fall in rubber prices encouraged bargain hunters, who pushed prices higher close to the day’s highs, traders said.
* Japan’s crude rubber inventories totalled 4,195 tonnes as of Oct. 20, down 16.4 percent from 10 days earlier, data from the Rubber Trade Association of Japan showed. [ID:nSP284959]
* Thailand’s rubber cooperatives are to sign a deal to sell 3,000 tonnes of rubber sheet per month to a South Korean dealer, a cooperative official said on Tuesday. [ID:nBKK180219]
* U.S. crude futures lost ground for a fourth day to stand below $79 a barrel on Tuesday, hurt by a stronger dollar and concerns that a sluggish economic recovery would keep fuel demand low. [O/R]
* The dollar stayed near a one-month high above 92.20 yen on Tuesday . A weaker yen improves sentiment as it inflates yen-priced futures prices.

Source: Reuters

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