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News
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Trade Service
On Friday, the Tokyo morning rubber RSS2007 contract opened at 188.
3 yen, up 1.
7 yen
from the previous session.
The RSS2008 contract opened at 152.
8 yen, unchanged
from the previous session.
The USDJPY exchange rate traded around
112.
03 in the morning.
Tokyo rubber market, due to the recent increase in the number of people infected with the new coronavirus in Japan, the yen gradually lost its special status as a safe-haven currency, under the effect of the weakening of the yen, the price of the far month contract fell back yesterday after approaching the 189 yen line
.
Passengers on the Diamond Princess cruise ship docked at the port of Yokohama began to disembark this week, considering the high potential of the new virus, the market fears that a new round of epidemic infections in Japan may break out in the short term, coupled with previously released economic data significantly lower than market expectations, there are signs that institutional investors have sold yen assets in large quantities, causing the dollar/yen exchange rate to stand on the 112 yen line in late trading
.
In the Chinese market, the Ministry of Commerce plans to announce a new round of measures to stimulate automobile consumption in the near future, which may support rubber prices, but due to the low resumption rate of tire factories and the expected availability of domestic inventories until March
.
In terms of spot, the February FOB price of No.
3 cigarette tablets was around 51.
99 baht on February 20, down 0.
52 baht
from the previous session.
The price of the 20-month FOB was around 45.
72 baht, down 1.
53 baht
from the previous session.
The USS spot price was around 40.
49 baht, up 0.
13 baht
from the previous session.
Recently, the rubber market itself has less materials, mainly due to the price trend around the epidemic, focusing on the spread structure
between far-month contracts after the new contract is listed next week.
In terms of trading operations, maintain range trading and control the cost of
opening positions.
Rubber futures trend weak down, combined with spot supply and demand, the later period of adjustment is strong, the operation between 11500-12300 rolling operation long orders, gradually move profit protection
.
