Friday, November 8, 2019

Oil prices increased


A spokesperson for China’s Commerce Ministry, Gao Feng said at a weekly briefing in Chinese that U.S and China have agreed to remove the additional duties imposed on each other’s products in different phases after they make progress in reaching a deal. Canceling tariffs is vital to the first phase of their trade agreement, which both sides have agreed to do as negotiations progress.

But stock market retreats as Trump says he hasn't agreed to roll back China tariffs. U.S. stocks traded mostly lower after President Trump cast doubt on earlier reports that the administration would agree to roll back import duties on China as part of a Å“phase-one trade deal.

U.S Crude Oil WTI closed at $57.24 per barrel, while International Brent Oil Future closed at $62.51.

The benchmark RSS4 grade rubber closed at `.126 a kg at Kottayam, while RSS3 grade closed at `.106.46 a kg at Bangkok and Malaysian SMR20 closed at `.96.05 a kg. On ICEX, November 2019, the futures closed at `.128.10 a kg, December at `.129.09, January 2020 at `.130.28, February at `.125.77, March at `.127.03 and April closed at `.128.30 a kg. Tokyo Commodity Exchange November 2019 futures series closed at ¥158.9 a kg, December at ¥162.8, January 2020 at ¥166.5, February at ¥170.6, March at ¥174.9 and the contract for delivery in April 2020 closed at ¥177.3 a kg.

To read Rubber4U – 15th November 2019 issue: http://rubber4u.com/Public/Abcd.pdf
For National Rubber Policy: http://rubber4u.com/Public/NRP2019.pdf

Wednesday, October 16, 2019

Conference on Friday


A conference has been organised by Karnataka Rubber Planters Association (KRPA) in view of various issues being faced by rubber growers, especially after the steep fall in the prices of natural rubber in the last several years, on 18th October 2019 at the Dakshina Kannada District Central Cooperative Bank Hall, Kodialbail, Mangaluru at 11 a.m.

K.N. Raghavan, Executive Director of Rubber Board of India will inaugurate the conference, which will discuss subsidy issues, demand for minimum support price, issues related to tapping of latex and the like, according to N. Sharath Bhandary, president of KRPA.

The benchmark RSS4 grade rubber closed at `.120 a kg at Kottayam, while RSS3 grade closed at `.103.42 a kg at Bangkok and Malaysian SMR20 closed at `.92.47 a kg. On ICEX, November 2019, the futures closed at `.119.64 a kg, December at `.120.06, January 2020 at `.124.53, February at `.125.77, March at `.127.03 and April closed at `.128.30 a kg. Tokyo Commodity Exchange October 2019 futures series closed at ¥149.1 a kg, November at ¥151.8, December at ¥156, January 2020 at ¥157.5, February at ¥160.8 and the contract for delivery in March 2020 closed at ¥162.6 a kg. On Thurday, most probably Tocom futures contract for delivery in March may trade in the range of ¥162 & ¥166 a kg.

To read Rubber4U – 15th October 2019 issue: http://rubber4u.com/Public/Abcd.pdf
For National Rubber Policy: http://rubber4u.com/Public/NRP2019.pdf

Friday, October 4, 2019

As expected

The Reserve Bank of India’s six-member Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 5.15% to kick start economic growth languishing at six-year lows. The RBI maintained its accommodative stance and said it would maintain this position as long as it is necessary to revive growth, while ensuring inflation remains within target.

On 3rd October, benchmark RSS4 grade rubber closed at `.122 a kg at Kottayam, while on 4th October, RSS3 grade closed at `.100.26 a kg at Bangkok and Malaysian SMR20 closed at `.88.82 a kg. Tokyo Commodity Exchange October 2019 futures series closed at ¥149 a kg, November at ¥151.2, December at ¥152.1, January 2020 at ¥152.9, February at ¥155.6 and the contract for delivery in March 2020 closed at ¥157.1 a kg.

To read Rubber4U – 1st October 2019 issue: http://rubber4u.com/Public/Abcd.pdf
For National Rubber Policy: http://rubber4u.com/Public/NRP2019.pdf