Tuesday, July 21, 2015

Rubber stable as oil price dips

U.S oil prices dipped below $50 a barrel Monday for the first time since April on continued concerns that global crude oil supplies are overwhelming demand. US August crude, set to expire on Tuesday, fell 74 cents to settle at US$50.15 on Monday, having fallen to US$49.85, its first time below US$50 since April. Oil prices steadied on Tuesday and closed at $50.36 a barrel, helped by a dip in the dollar.

Versalis Pacific Trading (Shanghai), a 100% subsidiary of Versalis (Eni), a major producer in the polymers and elastomers industry, announced to have signed an Styrene Butadiene Rubber sales agreement with Reliance Industries Ltd. to commercialise the rubber produced by Reliance in the new plant.

The benchmark RSS4 grade rubber closed at `.125 a kg at Kottayam, while RSS3 grade closed at `.107.03 a kg at Bangkok and Malaysian SMR20 closed at `.93.07 a kg. On National Multi Commodity Exchange August 2015 futures closed at `.126.07 a kg, September at `.126.03 and October at `.125.02 a kg. On Tokyo Commodity Exchange, July 2015 futures series closed at ¥200.8 a kg, August at ¥204.1, September at ¥207, October at ¥209.8, November at ¥212.2 and the contract for delivery in December 2015 closed at ¥214.9 a kg. On Wednesday, most probably Tocom futures contract for delivery in December 2015 may trade in the range of ¥218 & ¥212 a kg.

To read Rubber4U – 1st August 2015 issue: http://rubber4u.com/Public/Abcd.pdf

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