Tuesday, October 26, 2010

Rubber climbs to highest level on supply concerns

At TOCOM rubber futures advanced to 27 month high on speculation that China will increase purchases to stock up rubber, on concern over declining supplies due to floods and heavy rains.

On Tokyo Commodity Exchange, the April 2011 delivery contract, which was listed today, climbed to 343.3 yen per kg - the highest level since 14th July 2008, before closing at 340.3 yen per kg.

Natural rubber inventories remain at a low level, prompting buyers to step up purchases. Floods in Thailand and China also raised concerns that production may be damaged, reducing to limited supplies to the market.

Natural rubber imports by China jumped 19% from a month earlier to 190,000 tonnes in September as the country’s passenger car sales to dealerships quickened from August on additional incentives for buyers.

Rubber Future Trade at TOCOM as on 26th October 2010 at 16:10 JST (In yen/kg)  

Month              Open    High     Low     Close

Nov 2010           330.4    332.2    327.8    327.8

Dec 2010          333.0    333.9    328.5    330.6

Jan 2011           336.0    337.3    331.4    334.7

Feb 2011           337.9    339.3    332.9    336.7

Mar 2011           340.0    341.4    335.0    338.9

Apr 2011           342.0    343.3    336.9    340.3

Read lot more in Rubber4U – 1st November 2010 issue

Sunday, October 10, 2010

Sajen Peter - the new Chairman of ANRPC

Sajen Peter – the Indian Rubber Board chairman has been elected as the new chairman of the Association of Natural Rubber Producing Countries (ANRPC) by its Assembly held in Kochi – Kerala, during the closing session of the Assembly on 8th October 2010.

After joining the Indian Administrative Service in 1982 and serving government of Kerala in several senior posts. Sajen Peter took over as Rubber Board chairman in 2005.

ANRPC is an intergovernmental organisation established in 1970 and has at present 11 member countries viz., Cambodia, China, India, Indonesia, Malaysia, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand and Vietnam. The member countries of the Association account for around 92% of natural rubber production in the world. 

Read lot more in Rubber4U – 15th October 2010 issue