Wednesday, September 9, 2015

NR output up, import down

Crude oil prices remained steady but at low levels as concerns remained that high global production was being met by increasingly slowing demand. Oil prices have fallen almost 60% since June 2014 on a global supply glut, while production remained near record highs.

In India, natural rubber production rose 7.8% in August to 55,000 tonnes compared to 51,000 tonnes during August 2014, while consumption grew to 87,500 tonnes from 86,300 tonnes in August 2014. Natural rubber imports fell 32% to 33,292 tonnes, compared to same period of 2014.

During the April-August 2015 period, natural rubber production fell 11% to 2.42 lakh tonnes from 2.72 lakh tonnes during same period of 2014. Consumption declined by 1.7% to 418,080 tonnes from 425,285 tonnes. Imports decreased to 178,756 tonnes from 192,966 tonnes. However, exports grew to 194 tonnes during April-August 2015 from 184 tonnes in the same period of 2014.

Today the market was in positive trend and can expect the same tomorrow also. The benchmark RSS4 grade rubber closed at `.112 a kg at Kottayam, while RSS3 grade closed at `.90.72 a kg at Bangkok and Malaysian SMR20 closed at `.84.99 a kg. On National Multi Commodity Exchange September 2015 futures closed at `.113.68 a kg, October at `.113.58, November at `.113.47, December at `.113.33 and January 2016 closed at `.113 a kg. On Tokyo Commodity Exchange, September 2015 futures series closed at ¥162.9 a kg, October at ¥166.2, November at ¥168.1, December 2015 at ¥171, January 2016 at ¥173.4, and the contract for delivery in February 2016 closed at ¥174.3 a kg. On Thursday, most probably Tocom futures contract for delivery in February 2016 may trade in the range of ¥169 & ¥176 a kg.

To read Rubber4U – 15th September 2015 issue:
For 2015-16 Rubber Forecast:

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