RUBBER-Tokyo futures edge higher, upside firm 2012/02/14
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- Category: ต่างประเทศ
- Published on Tuesday, 14 February 2012 03:10
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TOKYO, Feb 14 (Reuters) - Key TOCOM rubber futures edged higher on Tuesday with stronger oil prices lending support, but gains were limited as many investors liquidated contracts to take profits, while firm support came from concerns about falling supply.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for July delivery <0#2JRU:> was changing hands at 317.5 yen per kg as of 0050 GMT, up 0.9 yen.
* Michelin SCA, the world's No.2 tyremaker, raised its 2015 profit goal by a quarter, encouraged by demand from European and U.S. truckmakers, strong pricing and growth in outsize tyres for the mining industry.
* For the top stories in rubber market and other news click , or
MARKET NEWS
* Oil prices rose on Tuesday after Greece approved austerity measures needed to acquire more aid and avoid default, sparking another round of investor optimism, and as tensions between Israel and Iran reinforced concerns about supply disruptions.
* Japan's Nikkei share average dipped in early trade on Tuesday, with investors wary whether Greece will deliver on its promises on reforms and secure a second bailout to avoid an unruly default.
DATA EVENTS
* The following data is expected on Tuesday: - 0300 Japan BOJ rate decision Feb 2012 - 0430 Japan Industrial output rev Dec 2011 - 1000 EZ Industrial production yy Dec 2011 - 1000 Germany ZEW economic sentiment Feb 2012 - 1245 U.S. ICSC chain stores yy Weekly - 1330 U.S. Import prices mm Jan - 1330 U.S. Retail sales mm Jan - 1330 U.S. NOPA soy crush Jan - 1500 U.S. Business inventories mm Dec - 2130 U.S. API weekly crude stocks Feb 10 - 2130 U.S. API weekly dist. stocks Feb 10 - 2130 U.S. API weekly gasoline stk Feb 10 (Reporting by Yuko Inoue; Editing by Michael Watson)
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