Monday, September 28, 2015

Indication of short uptrend in October


The anti-dumping duty can be imposed only if goods are imported at dumping prices. Safeguard duties are measures to protect the domestic industry from a sudden surge in imports. The World Trade Organization does not allow such duties to be imposed for more than four years at a stretch.

In February 2015, Automotive Tyre Manufacturers' Association (ATMA), in its pre-budget submission, has urged the government to increase the customs duty on tyres from basic rate of 10% to 20% and putting imports of tyres under negative list in all trade agreements, so as to provide a level-playing field to the domestic manufacturing. And now ATMA has sought safeguard tariffs on car tyre imports from China and South Korea.

The benchmark RSS4 grade rubber closed at `.112.50 a kg at Kottayam, while RSS3 grade closed at `.87.91 a kg at Bangkok and Malaysian SMR20 closed at `.82.39 a kg. On National Multi Commodity Exchange October 2015 futures closed at `.114.25 a kg, November at `.113.92 and December at `.114.53 a kg. Tokyo Commodity Exchange October 2015 futures series closed at ¥160.1 a kg, November at ¥160.5, December at ¥164.6, January 2016 at ¥167.4, February at ¥169.4 and the contract for delivery in March 2015 closed at ¥170.6 a kg. On Tuesday, most probably Tocom futures contract for delivery in March 2016 may trade in negative and in the range of ¥162 & ¥167 a kg.

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

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