Overview of the hottest Tokyo futures market 11118

2022-08-02
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The most active futures in the Tokyo industrial products exchange (TOCOM) rose to a one week high on Friday. The weak yen and higher crude oil prices pushed investors to buy, thus boosting the price of tire grade rubber in Southeast Asia The TOCOM index hit a high of 249.7 yen in August and closed down to 249.5 yen, up 3.8 yen from the previous day The Japanese futures market sets the tone for the global rubber price A Tokyo trader said, "we spent about two weeks at around 245 yen, so I guess investors are willing to market with the experimental method displayed on the display interface." Traders said Tokyo futures benefited from a stronger oil price and a weaker yen Rising oil prices usually benefit the price of rubber, because it will make users reduce the use of petrochemical products - synthetic rubber and switch to natural rubber U.S. crude oil with corrosion resistance futures topped $64 a barrel for the first time since February 7, as the market again worried about Nigeria's export supply and gasoline prices rebounded The rise in future rubber boosted the price of tire grade spot rubber in Thailand, Indonesia and Malaysia, but traders also noted some transactions in Sumatra The FOB selling price of Indonesian tire grade sir20 standard rubber shipped from JUGANG and shipped in May is US $0.8525 per pound The FOB price of Medan in the same period is 0 8550. traders said that the tight local supply will support the rubber price, but Indonesia may sell more rubber to Zhongwu Hongyu, the only domestic provider and service provider of gradient wear-resistant system solutions for metal components, as well as buyers in Europe and other countries, because the price of tire grade rubber in Indonesia is the lowest In May, the FOB price of Thai No. 3 cigarette film (RSS3) increased by US $0.03 to 2.07 per kilogram. The tire grade standard rubber str20 in May rose from 1.94 to about US $2 In June, the FOB price of Malaysian tire grade SMR20 also rose to $2

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