India has been increasing fuel prices in
order to ease its fiscal burden and inflation in double digit. The hike in
petrol prices and also hike in interest rates has impacted the auto sector, resulting
in weak demand for the vehicles. The sluggish growth in auto sales has impacted
the rubber goods manufacturing sector also.
Most probably the next opening of Indian
Stock Market may be in red and if so happens then one can expect domestic NR
prices moving further down. On 9th November, as predicted RSS4 grade
closed (below our forecasted figure made on 1st November) at Rs. 196
a kg at Kottayam, RSS3 grade in the international market at Bangkok closed at Rs
174.70 per kg, SMR-20 closed at 171.97 a kg at Kuala Lumpur. At Tokyo Commodity
Exchange futures prices for November delivery closed at ¥264 a kg, for December
delivery closed at ¥265.7 a kg and ¥270.7 a kg for March 2012 contract.
Natural rubber continues to remain in the
weak territory and further downward trend can be expected during the week, with
a strong support at Rs. 185 per kg.
Read
lot more in Rubber4U – 15th November 2011 issue
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