Osaka Mercantile Exchange RSS3 Futures/Rubber Index Futures And Rubber Index Futures Weekly Report

Distant month: opening 76.90 yen, a high 78.40 yen (Dec. 8), low 75.00 yen (Dec. 9), closing 76.40 yen. On December 6, the RSS3 futures opened almost unchanged from last week's close with players staying on the sidelines in the absence of encouraging factors. On December 8, the distant contract went higher to 78.40 yen on buying for profit-taking due to the lull price movement in the yen and the stronger physical prices in the producing areas on the prolonged heavy rains. Later, the distant contract turned sharply lower to 75.00 yen on technical elling. Players were focusing their attention on the trading houses that seem to be ready to take deliveries at the expiry of the current month. On December 10, the distant contract resisted to decline and closed at 76.40 yen. This week's total volume in RSS3 futures market was 21,182 lots. The open interest was 33,119 lots as of December 10. This week, OME Rubber Index Futures fluctuated within a narrow range amid unclear outlook in the market. Distant month : opening 72.00 points, a high 72.80 points (Dec. 9), a low 71.00 points (Dec. 6), closing 71.80 points At the beginning of the week, distant month in OME Rubber Index Futures opened 0.55 higher at 72.00 from the Friday's close on short-covering due to the dollar's strength led by the surge in N.Y. stocks. Despite the stronger physical prices in producing countries on the delayed tapping by the heavy rains, the prices at OME remained in a narrow range on the increase in the rubber stocks in Japan as of November 30 by 932 tonnes from November 20 to 40,549 tonnes. Later, the prices in RSS3 futures fell sharply on selling by bears who had anticipated the decline due to the existence of public investors keeping their long positions after taking them at the higher level. On December 9, Rubber Index Futures sank to the day's limit-lows on active long-liquidation and bears' selling in line with RSS3 Futures market. On December 10, the prices rebounded slightly on short-covering for profit-taking on the growing sentiment of being oversold in the market. This week's total volume of trading was 28,175 lots. The open interest was 35,487 lots as of December 10.