Monday, May 9, 2011

During the week rubber likely to trade between Rs. 232 & Rs. 221 a kg.

Rubber declined after the China's manufacturing index fell more than economists forecasted. Lack of demand especially from China due to its high level of rubber inventory is likely to drag prices down during the week. Rising supply from major rubber producing countries could also put pressure on prices.

The unusual rainfall in Kerala has brought in a slight correction in prices as rubber production has gathered momentum as higher rubber prices forced growers to re-start tapping well in advance of monsoon. It is expected that rubber prices to decline further in the coming days and will be trading between Rs. 232 to Rs. 221 a kg, as tapping will continue till end of May.

Read lot more in Rubber4U – 15th May 2011 issue

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