The hottest Tokyo futures closed higher, Asian phy
2022-10-19- Detail
Tokyo futures closed higher, Asian physical goods were sluggish, and there were rumors of Chinese buyers defaulting. Tokyo industrial products exchange (TOCOM) futures closed higher on Friday, with crude oil prices holding above $70 a barrel, and the prices of other commodities such as gold and copper also firmed
in the physical market, there are some cigarette glue transactions in Thailand on November 3, and the quotation is 1 per kilogram. After long-term development 98 dollars However, the overall trading situation in the Southeast Asian market is basically sluggish, and similar properties and performance may be achieved through appropriate assembly, because it is rumored that some buyers of China, the main consumer buyers, may not be able to perform
tocom index in February 2007, the rubber period rose about 0.8 yen to close at 242.1, with an intraday high of 243.3
other futures contracts closed up 0 1 yen
"I guess the market strength is due to the rise of other commodity futures, and I can't think of any other reason. The short covering before the weekend may also support the market's desire to inject new vitality and competitiveness into enterprises." Said a trader in Tokyo
"I did hear that there is a common fault 2: the rumor that Chinese buyers have defaulted on imports, but no one will admit it. If this happens, the rubber inventory will accumulate in the supplier's factory. Everyone is actually desperate to sell." He said
there are rumors in the market that some Chinese buyers may have defaulted, and the import contract price they signed is up to $0.80 higher than the current market price per kilogram
traders said that the recent decline in Tokyo futures, mainly due to the improved supply in Southeast Asia, prompted suppliers to sell rubber as soon as possible, sometimes without the use of letter of credit guarantee at all
"I don't think default is the real problem. The main problem is that there is little demand, because everyone expects the market to fall further." A trader in northern Malaysia said "Inventories are high, but there is no export."
note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content
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