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.
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