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.

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

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