Friday, October 26, 2012

Expecting much action today

Oil prices were mixed in Asia today as traders await the release of US third-quarter growth figures later in the day. Market opened lower with investors mostly trading cautiously following a weak lead overnight. Tokyo rubber futures for November fell and closed at ¥248.5 per kg, as investors shied away from risk due to worries about the health of the global economy. The price of RSS3 grade at Bangkok closed at `.166.83 per kg. In India, car sales fell 5.4% in September, the second consecutive monthly slide.

Chennai based Ram Charan Company engaged in the business of supplying raw materials for rubber, plastic, inks, and adhesive industries, has signed a deals worth `.120 crore with global industry leaders - with a carbon black major - Birla Carbon and Lanxess, a global polymer manufacturer, to promote their products in India.

All eyes will be on the US GDP growth figure, which will perhaps give a guide for the future plan.

Read lot more in Rubber4U – 1st November 2012 issue

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