The crude oil price has fallen to its weakest
point since October 2009 at US$62.87 per barrel, which has dropped slightly
following the publication of China's monthly trade data, which came in well
below the expectations. China's State Reserves Bureau is to buy 128,500 tonnes
of rubber for its stockpiles, but market participants doubt the move would
offer support to prices.
Rubber farmers are threatening to march on
Bangkok next year if their demands for higher prices and an industry rescue
plan are not met. The Thai government has announced four more short-term
measures to arrest plummeting rubber prices ahead of a planned protest by
farmers. While Tokyo Commodity Exchange rubber contract for May delivery had fallen
to ¥193.6 per kg. It earlier in the day it touched a low of ¥192.7 a kg.
The benchmark RSS4 grade rubber closed at `.115
a kg at Kottayam, while RSS3 grade closed at `.95.28 a kg at
Bangkok and Malaysian SMR20 closed at `.88.80 a kg. On
National Multi Commodity Exchange December 2014 futures closed at `.113.32
a kg, January 2015 at `.113.36 and February at `.114.24 a kg. On
Tokyo Commodity Exchange, December 2014 futures series closed at ¥180.7 a kg, January
2015 at ¥182.6, February at ¥186.1, March at ¥190, April at ¥192.2 and the
contract for delivery in May 2015 closed at ¥193.6 a kg.
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