Wednesday, December 11, 2013

Import declines as global prices moves up

Tokyo Commodity Exchange rubber futures contract for May delivery hit a 2-1/2 month peak of on 10th December 2013 as the yen weakened, although the contract later eased as it came under pressure from declining oil prices and today it closed at ¥279.7 a kg.

According to Rubber Board of India, country's natural rubber imports fell 4.57% on the year in November to 22,872 tonnes, as tyre manufacturers reduced international purchases after prices in local market declined to their lowest level in more than three years.

RSS4 grade closed at `.151 a kg at Kottayam, while National Multi Commodity Exchange December futures were trading at `.152.25 a kg, January 2014 at `.154.74 and February at `.157.05 a kg at 16.05 IST. RSS3 grade closed at `.157.47 a kg at Bangkok and Malaysian SMR20 closed at `.142.95 a kg. Tokyo Commodity Exchange, December futures series closed at ¥274.9 a kg, January 2014 at ¥273.2, February at ¥273.5, March at ¥274.9, April at ¥277.4 and the contract for delivery in May 2014 at ¥279.7 a kg.

Read lot more in Rubber4U – 15th December 2013 issue

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