Saturday, October 8, 2016

NR & SR gains


On Tokyo Commodity Exchange, RSS3 grade natural rubber hit a five-month high, while synthetic rubber also climbed on the back of rising crude oil prices, WTI is currently trading at US$49.81 per barrel, while Brent is trading at US$51.93 per barrel. The RSS3 grade contract for March delivery rose to ¥175.3 a kg and settled at ¥173.7 per kg. Synthetic rubber also has been climbing in Asian markets as trader’s price in oil gains. Chinese demand for natural rubber remains strong, port inventories are substantial.

Under the ‘Pradhan Mantri Kausal Vikas Yojana’, the government of India has given approval for a scheme for the skill development in small rubber holders’ sector. The Rubber Board will implement the scheme with the active cooperation of National Skill Development Corporation and Rubber Skill Development Council.

The benchmark RSS4 grade rubber closed at `.116.50 a kg at Kottayam, while RSS3 grade closed at `.111.82 a kg at Bangkok and Malaysian SMR20 closed at `.98.02 a kg. On National Multi Commodity Exchange October 2016 futures closed at `.117.51 a kg, November at `.119.09, December at `.120.02 and January 2017 closed at `.120 a kg. Tokyo Commodity Exchange October 2016 futures series closed at ¥173.1 a kg, November at ¥172.7, December at ¥173, January 2017 at ¥173.9, February at ¥173.2 and the contract for delivery in March 2017 closed at ¥173.7 a kg.

To read Rubber4U – 15th October 2016 issue: http://rubber4u.com/Public/Abcd.pdf
For 2016-17 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf