The Tokyo Commodity Exchange announced today that average daily trading volume for May 2015 was 94,241 contracts, up 6.6% from April 2015. Year-on-year it gained 27.6%. Gold, which is TOCOM’s most actively traded product, saw volume rise 4.7% to 31,336 contracts and Rubber rose 37.0% to 11,481 contracts. These gains outpaced decreases in Platinum of 11.7% to 11,812 contracts and Crude Oil’s drop of 17.5% to 12,760 contracts.
This month saw the launch of TOCOM Gold Daily Futures. On May 7 the contract opened to strong trading with average daily volume of 11,902 contracts and open interest near 50,000 contracts. Also in May, Rubber saw significant gains in volume following Shanghai Rubber prices moving higher. The Chinese government announced reduction in import taxes, raising expectations for domestic demand. Rubber was further supported by the Thai government’s plan to reduce the number of rubber plantations as well as the depreciation of yen.
TOCOM open interest at the end of May 2015 was 388,668 contracts, an increase of 43,859 contracts from the end of April 2015.
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