Tokyo Commodity Exchange (TOCOM) rubber futures on Monday (December 15) continue to rise, because the Thai government plans to spend about $ 180 million to buy rubber, pushing prices upward of plastic, but its price up is limited, due to the stronger yen.
TOCOM rubber futures contract prices in May rose 0.6 percent on Monday, reported 196.5 yen / kg (0018GMT), the price closed higher on Friday, 4.9 yen.
Deputy Minister of Agriculture of Thailand said on Friday, the Thai government plans to spend $ 183 million purchase of rubber, but also some domestic companies to buy rubber, designed to promote upward price of rubber.
Shanghai Futures Exchange said on Friday the exchange rubber inventories rose 5.7 percent last week from the previous week.
A survey released by the Bank of Japan a week, the country in December manufacturing growth may slow down slightly, but business spending is still expected to increase, indicating that Japan’s economic recovery is uneven.
Asian city early Monday, the US dollar reported 118.13 yen, from Friday’s decline against touched 118.70.
The Nikkei 225 index fell 1.6 percent on Monday.
Brent crude oil futures fell 2.5 percent on Monday, fell to the lowest since five years, approaching $ 60 / barrel, as the International Energy Agency (IEA) forecast Brent crude oil prices will fall further, and OPEC decided not to cut oil production.
As at Beijing December 15 at 10:35 am, Tokyo rubber reported 200.9 yen / kg, up 2.55 percent.
