Financial markets are full of risk aversion Tokyo rubber prices continue to fall

Yesterday's Tokyo rubber market fell for the third consecutive session against the backdrop of the expansion of the epidemic worldwide and the continuation of overall risk aversion in financial markets
.
The far month contract briefly fell below the 180 yen line during the session and then rebounded slightly to close, but as the Shanghai market fell sharply after the Tokyo close, Tokyo jumped low and reached around
175 yen in late trading.

According to the latest data released by the Health Commission, as of February 27, there were only 9 new confirmed cases and 2 new deaths in areas outside Hubei Province, while new cases outside China exceeded China
for the second consecutive day since the 26th.
As safe-haven sentiment in financial markets continues to heat up amid worldwide pandemic concerns, the USDJPY exchange rate may put more downward pressure
on Tokyo rubber prices after falling below the 110JPY line.

In terms of spot, the February FOB price of No.
3 cigarette tablets on February 27 was around 54.
27 baht, up 0.
98 baht
from the previous session.
The price of 20-month FOB was around 46.
19 baht, up 0.
04 baht
from the previous session.
The USS spot price was around 42.
79 baht, up 0.
58 baht
from the previous session.

Technically, the RSS far month contract has fallen again after breaking through short-term support around 180 yen downward, but since it opened at the low of the week near 173 yen after the market closed on Tuesday, it is more likely that some buying will appear again near this level
.
At the same time, due to the close to the weekend and the end of the month, the external market is more likely to cover short orders, trading operations should not be too short chasing, the early short orders can be considered around 170-173 yen to close the market
.
The spread between the 2007 contract and the Shanghai 2005 contract (Tokyo-Shanghai) was $30.
1/mt
at the close of trading in Tokyo on February 27.