Osaka Mercantile Exchange RSS3 Futures And Rubber Index Futures Weekly Airport

Distant month: opening 86.40 yen, a high 86.80 yen (Nov. 15), low 80.40 yen (Nov. 19), closing 80.40 yen. On November 15, the spot month and distant month extended gains to close the day at 75.00 yen and 86.80 yen respectively on bargain hunting as the prices in the producing areas resisted to decline with the concern over the lower level. The total number of applications for quality inspection this month at OME and TOCOM was 1,200 lots and the rubber stocks in Japan increased by about 1,500 tonnes to 37,493 tonnes. With these factors, on November 16, the prices turned sharply lower on long-liquidation and selling by bears. Toward the close, the downward drift was accelerated on continued long-liquidation following the fall in physical prices in the producing areas. On November 19, the spot month and distant month closed lower at 69.60 yen and 80.40 yen, down 2.3 yen and 1.8 yen, respectively, from the previous day's close. Spot month fell below the 70 yen level, which was significantly lower than the prices offered in Thailand. With this factor, the spot month will expire calmly on November 24 despite the ample supplies, a trader said. This week's total volume in RSS3 futures market was 24,845 lots. Open interest was 34,075 lots as of November 19. This week, OME Rubber Index Futures turned lower in line with the easier tone in the producing countries after the prices opened higher at the beginning of the week. Distant month : opening 82.00 points, a high 82.35 points (Nov. 15), a low 77.00 points (Nov. 19), closing 77.00 points At the beginning of the week, distant month in OME Rubber Index Futures opened 1.45 higher at 82.00 from the Friday's close on short-covering and bulls' buying, taking over the firm sentiment from the end of the last week. On November 16, all contract months, except spot month and April contract, sank to the day's limit-lows due to active long-liquidation and bears $B!G (B selling following the sharp drop in the RSS3 futures. There was the news that the rubber stocks in Japan as of November 10 had increased by 1,500 tonnes from October 31 to 37,493 tonnes. The April contract month avoided hitting the day's limit-low on short-covering in a large lot for profit-taking and bargain hunting when it fell below the 80 point level. Toward the end of the week, the prices edged down with players hesitating to buy in prospect of bearish sentiment as the downward drift in the prices of the Singapore Commodity Exchange was accelerated due to the weakening demand in the consuming countries. Currently, the market is resisting to decline on bargain hunting. In distant months of RSS3 futures, however, public investors have built long positions actively at the higher level for the past few weeks. They will have to liquidate their positions soon, and the rally of RSS3 Futures is expected be limited. With this factor, the gain in Index Futures will probably be capped, traders said. At the end of June, the rubber stocks rose over the 45,000 tonnes, and we found that RSS3 futures went sharply lower due to the ample supplies. Later, RSS3 futures recovered as the rubber stocks decreased. Market players will need to focus their attention on the rubber stocks in Japan as Index futures is mostly driven by movements in RSS3 Futures. This week's total volume of trading was 38,519 lots. The open interest was 38,863 lots as of November 19.