Friday, March 18, 2011

NR prices bounce back and narrows the gap

The natural rubber market is expected to rebound due to favourable fundamentals, such as strong economic growth of China and India coupled with anticipated higher average oil prices in 2010. Natural rubber prices today rose by Rs 6 to Rs 221 per kg in the domestic markets and in the international market at Bangkok it rose by almost Rs 19 to Rs 227.37 per kg today as against Rs 208.51 yesterday.

The prices in the spot markets has risen on back of price adjustment in the major international spot and future markets. A higher level of NR price is expected especially in view of tight global supply and declining stocks. There could be minor adjustments in the NR prices in the coming days.

It is also expected that Thailand, Indonesia and Malaysia would probably delay exports to counter a price slump.

Read lot more in Rubber4U – 1st April 2011 issue

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