Friday, January 11, 2019

Worries over economic slowdown

Oil prices slipped on concerns over economic growth after talks fell short of offering concrete steps to end the Sino-U.S trade war, although OPEC led production cuts bolstered sentiment in crude markets. Oil prices were also supported by comments from U.S. Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy. Brent crude futures closed at $60.48 a barrel, while West Texas Intermediate crude closed at $51.59 a barrel.

Kerala rubber growers have decided to form a company to venture into manufacturing value added products as demand has fallen for locally produced natural rubber. While International Tripartite Rubber Council will be meeting in Bangkok on 19th and 20th January 2019 to find ways to boost rubber demand.

Benchmark Tokyo rubber future ended slightly higher after surging to a nearly 7 month high, supported by hopes that U.S-Sino talks may resolve a trade war and on some fears that Thailand’s storm last week may have affected rubber output.

The benchmark RSS4 grade rubber closed at `.125 a kg at Kottayam, while RSS3 grade closed at `.110.57 a kg at Bangkok and Malaysian SMR20 closed at `.97.27 a kg. On ICEX, January 2019, the futures closed at `.125.99 a kg, February at `.127.99, March at `.130.05, April at `.125.64, May at `.126.91 and June closed at `.128.17 a kg. Tokyo Commodity Exchange January 2019 futures series closed at ¥187.8 a kg, February at ¥184.7, March at ¥184.8, April at ¥184.8, May at ¥184.2 and the contract for delivery in June 2019 closed at ¥183.5 a kg.

To read Rubber4U – 15th January 2019 issue:
For 2018-19 Rubber Forecast:

1 comment:

  1. information detailed above was important!! please include a article named rubber paver mould manufacturers in kerala!