Osaka Mercantile RSS3 Futures/Rubber Index Futures Weekly Report

RSS3 Futures: Distant month: opening 69.8 yen, a high 73.0 yen (Aug. 31), low 69.8 yen (Aug. 30), closing 70.7 yen. Rubber Index Futures: Distant month: opening 64.50, a high 66.85 (Aug. 31), a low 64.50 (Aug. 30), closing 65.60 points. On August 31, in the RSS3 futures market, the spot and distant months went higher to 63.2 yen and 73.0 yen on short-covering and buying by bulls due to the talks that a trading house would export about 10,000 tonnes of rubber to China and that Thailand might review its decision to withdraw from INRO. On September 3, the distant month turned lower to 70.70 yen as the difference between the prices in the producing areas and at OME narrowed on yen's rise to the 109 level attracting the hedge selling and selling at a rally. "Funds have been liquidating their longs throughout this week," market players said. This week's total volume in RSS3 futures market was 17,168 lots, and it was 15,760 lots in index futures market.