Monday, April 4, 2011

Rubber price at its peak once again

Rubber prices made a glorious rebound on strong demand and sharp gains in domestic and international markets. According to industry experts, prices are set to break current records to create another historic high shortly. Rubber grade RSS4 closed at Rs 240/- a kg. at Kottayam and at Bangkok RSS3 grade closed at 258.08 a kg.

Increase in oil prices has lead to rise in the cost of synthetic rubber, substitute of natural rubber. The floods in Thailand, the world’s largest natural rubber producer have disrupted output over the past week. As on 1st April, natural rubber inventories monitored by the Shanghai Futures Exchange fell for an eighth week, losing 5,587 tonnes to 27,611 tonnes, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin.

Read lot more in Rubber4U – 15th April 2011 issue

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