Wednesday, March 6, 2013

Rubber prices moves up

Economic data are driving commodity prices higher. Rubber futures gained as oil and equity markets rallied on improving U.S. service industries data. China maintained its economic growth target at 7.5% for 2013 and set a lower inflation goal of 3.5%. China’s growth target for this year is not that high and unlikely to boost consumption in a significant way.

Today, the contract for delivery in August advanced as much as 1.7% to ¥292.5 a kg and closed at ¥289.1 a kg on the Tokyo Commodity Exchange and it is expected to trade above ¥293 a kg on Thursday.

RSS4 grade rubber in India closed at `.159 a kg and the price of RSS3 grade closed at `.164.17 per kg at Bangkok. While Malaysian SMR 20, closed at `.157.02 a kg. On the Tokyo Commodity Exchange, March futures series closed at ¥274.3 per kg.

Read lot more in Rubber4U – 15th March 2013 issue

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