Saturday, December 14, 2019
Tuesday, December 3, 2019
Lots of hope on back of slowdown
The
Reserve Bank of India (RBI) may cut interest rates for the sixth straight time
on 5th December to support growth that has continued to slip to more than
six-year low on slump in manufacturing. RBI has cut interest rates on every
single occasion the multi-member monetary policy committee (MPC) has met.
GDP
growth slowed sharply to a pace of 4.5% in the July-September 2019, hit by a
slump in manufacturing output, which contracted by 1.0%.
United States
sparking off a trade war with Brazil and Argentina, amid an ongoing dispute
with China. U.S. President Donald Trump on Monday said he would impose tariffs
on steel and aluminium imports from Brazil and Argentina, taking the trade war
to new pastures even as the United States looks to sign a trade deal with
China.
The benchmark RSS4 grade rubber closed at `.130.50
a kg at Kottayam, while RSS3 grade closed at `.110.63 a kg at
Bangkok and Malaysian SMR20 closed at `.102.17 a kg. On
Monday, ICEX December 2019, the futures closed at `.133.07
a kg, January 2020 at `.134.35, February at `.136.97, March at `.133.49,
April at `.134.82 and May closed at `.136.16 a kg. Today, Tokyo
Commodity Exchange December 2019 futures series closed at ¥169.0 a kg, January
2020 at ¥168.2, February at ¥171.3, March at ¥177.4, April at ¥184.2 and the
contract for delivery in May 2020 closed at ¥189.0 a kg.
Saturday, November 30, 2019
Thursday, November 14, 2019
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 œphase-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.
Thursday, October 31, 2019
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.
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