Tokyo Futures Ease On Stronger Yen, In Narrow Ranges

Key Tokyo rubber futures eased on Monday (Apr 25) as a stronger yen hurt sentiment, but prices stayed in narrow ranges ahead of Japan's Golden Week holidays.
FUNDAMENTALS
The benchmark rubber contract on the Tokyo Commodity Exchange for October delivery, which debuted on Monday (Apr 25), stood at 408.5 yen per kg as of 0030 GMT.
The previous benchmark for September delivery was down 1.4 yen at 417.6 yen, after settling Friday (Apr 22) up 1.6 percent or 6.7 yen at 419.0 yen.
Deliveries against the April rubber futures contract, which expired on Friday (Apr 22), were 305 lots or 1,525 tonnes, the smallest amount in four months.
The most-active rubber contract on the Shanghai Commodity Exchange for September delivery rose 270 yuan to settle at 34,780 yuan ($5,355.772) per tonne on Friday (Apr 22).
Oil was up in early trade on Monday (Apr 22), supported by a weak dollar.
The dollar stayed under pressure near a three-year low against a basket of currencies.
(Reuters, April 25, 2011)