Oil traded near the highest close in two
weeks after the International Monetary Fund (IMF) boosted its growth outlook
and a Spanish debt sale raised more than planned, easing concern - an economic
slowdown will curb crude demand.
Rubber increased by the most in two months
after Spain sold more debt than targeted and the IMF raised economic forecasts,
easing concerns about slowdown for natural rubber demand. The April rubber futures
closed at ¥294.7 per kg, May at ¥297.8, June at ¥301.5, July at ¥305.8, August at
¥309.6 and September at ¥311.5 on the Tokyo Commodity Exchange.
Tyre makers have built inventory from imports
and their buying in the local market is lower than last year, due to which natural
rubber prices in India are likely to weaken. Today, RSS4 grade closed at `196.50
a kg at Kottayam and RSS3 grade closed at `197.82 a kg at Bangkok.
Read
lot more in Rubber4U – 1st May 2012 issue
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