Tuesday, May 22, 2012

Rubber prices rise on purchase plans


TOCOM rubber futures rose on Monday as investors covered short positions on news that Thailand plans to import 10,000 tonnes of rubber and China will boost economic growth, which in turn will improve demand for rubber, though gains were limited by concerns over the euro zone economy after a G8 meeting failed to offer a specific prescription to the crisis.

Thailand will import rubber by receiving deliveries from TOCOM in a bid to avoid shipment delays at a time when domestic supply is tight because of the impact of unseasonal rains.

Curretly, rubber contract for June to October delivery were trading at ¥283, ¥284.1, ¥285.5, ¥280.7 and ¥276.1 per kg, respectively on the Tokyo Commodity Exchange. On Monday, RSS4 grade closed at `194 a kg at Kottayam and RSS3 grade closed at `205.85 today at Bangkok.

Read lot more in Rubber4U – 1st June 2012 issue

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