【Dot Commodity Weekly Market Review March 5-9】商品先物取引のドットコモディティ

海外マーケットの市況情報Weekly Market Review|2012/3/12/ 16:04投稿

Dot Commodity Weekly Market Review March 5-9


TOCOM Gold

TOCOM gold futures prices fell last week by 40 yen per gram on the most actively traded forward contract. The February 2013 contract closed the day trading session last Friday at 4480 yen after briefly passing the 4500 mark earlier in Friday’s trading session. Prices fell on the first three trading days of the week before recovering some of those losses on Thursday and Friday. The U.S. dollar spot price of gold fell early in the week leading Tokyo prices lower as China announced that they were cutting their expectations for 2012 economic growth from 8% to 7.5%. Other factors that weighed on gold prices last week was data showing a further slowing of economic activity in many parts of Europe including Italy and Spain. However, later in the week it became apparent that Greece would work out a deal with bond holders to swap debt with losses given to bond holders. The U.S. Federal Reserve also announced that they were considering a new scheme to buy bonds to keep interest rates artificially low. In physical gold markets, there were reports of strong demand for physical gold in Asia as prices swooned the previous week and early last week. Many analysts are still expecting gold prices to remain strong in 2012 due to negative real interest rates and ongoing easy monetary policies by central banks in Japan, the EU and the U.S. Open interest was little changed last week and trading volume was moderate.

TOCOM Gold Daily Chart – Forward Contract (as of Mar 9)

 

TOCOM Gold Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar 9

4436

4504

4432

4480

49

56438

121109

Mar 8

4359

4432

4345

4431

68

45397

121100

Mar 7

4451

4459

4331

4363

-106

86273

122834

Mar 6

4474

4493

4436

4469

-16

69347

126275

Mar 5

4520

4521

4476

4485

-35

48180

120622

 

TOCOM Platinum

Prices of TOCOM platinum futures followed gold prices lower on the first three trading days last in Tokyo. The most actively traded forward TOCOM platinum futures contract on TOCOM fell by around 2.5% or 112 yen per gram last week. Like gold futures, prices did recover some of the early losses in the week on Thursday and Friday. The forward contract closed the trading week at 4395 yen per gram. Besides the drag on platinum prices by the fall in gold prices, automobile sales in China are reportedly having a slow start in 2012 due to high gasoline prices and a slowing economy. Additionally, the GDP of Europe reportedly fell by 0.3% in the fourth quarter compared to the third quarter last year. In platinum industrial news, labor problems affecting the huge Rustenburg mine in South Africa owned by Impala Platinum were looking like they would be settled and production was reportedly getting back to normal levels. Trading volume was moderate and open interest gained about 2,000 contracts to stand at 43,702 at the end of Friday’s day trading session.

TOCOM Platinum Daily Chart – Forward Contract (Mar 9

TOCOM Platinum Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar 9

4329

4438

4291

4395

66

18177

43702

Mar 8

4236

4330

4202

4329

83

17181

43741

Mar 7

4356

4367

4191

4246

-125

26667

43469

Mar 6

4431

4434

4346

4371

-79

17796

42582

Mar 5

4504

4504

4440

4450

-57

10474

41734

 

TOCOM Rubber

Prices of TOCOM natural rubber futures also did not escape losses in the first three trading days last week as the benchmark forward contract lost 6.7 yen per kilo or roughly 2.0%. The forward contract closed Friday’s day trading session at 335.4 yen after hitting a weekly low of 320.4 during Wednesday’s trading. For similar reasons for drops in platinum and gold prices, China’s announcement of slower growth expectations than previously announced spooked markets and the TOCOM rubber futures market was no exception. Prices did recover some of the early week losses on Thursday and Friday due to higher oil prices and global market equity and commodity rallies on news that Greece came to an agreement with most of the private bond investors that they had been negotiating with for a bond swap on their sovereign debt. Some traders are now expecting pretty strong resistance in the 340-350 yen range going into trading next week. In physical market news, many tire manufactures have announced more price increases for their retail prices including Goodyear Tire & Rubber Co. last week. It was reported that they would be raising prices from April 1st by up to 6% in North America. Earlier this year other tire manufactures, including Japanese tire manufactures, announced prices increases due to higher raw material costs. Also, the Philippine government announced that they would be increasing support to further develop their natural rubber production in the coming years. This will take time to develop the new plantations but will eventually add to global rubber production and Philippine rubber exports in the coming years. Trading volume for TOCOM rubber futures was moderate last week and open interest fell back below the 25,000 contract mark.

TOCOM Rubber Daily Chart – Forward Contract (Mar 2)

 

TOCOM Rubber Forward Contract Weekly Trading Data

Date

Open

High

Low

Close

Change

Volume

Open Interest

Mar 9

327.4

337.4

326.1

335.4

8.1

10254

23651

Mar 8

324.4

329.5

324.2

327.3

2.6

7221

23527

Mar 7

331.0

332.3

320.4

324.7

-7.7

10183

24318

Mar 6

336.9

337.9

330.1

332.4

-6.5

10788

25359

Mar 5

342.0

343.5

336.9

338.9

-3.2

6834

25211

 

Exchange and Industry News

 

TOCOM February 2012 Trading Data and Activities

 

http://www.tocom.or.jp/data/geppou/gaikyo201202_e.pdf

 

TGE Monthly Trading Report February 2012

 

http://www.tge.or.jp/english/whats/news/pdf/gyoumu/E20120306.report.pdf

 

Disclaimer:

This market review and news report contains information and data from sources believed to be reliable and accurate as of the date of publication but has not been independently verified. This report is for informational purposes only and no employee, director or connected person to Dot Commodity, Inc. takes any responsibility for the information or correctness of the content contained in the report. Dot Commodity, Inc. is strictly an online commodity futures broker and does not give any trading recommendations or financial advice to any of its clients, perspective clients or readers of this report. No part of this market review & news report is to be construed as an offer or solicitation to buy or sell any commodity futures or financial contract or product of any kind.


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