Natural rubber prices in India are likely to
extend further gains on strong demand and as farmers curtail supplies, hoping
prices would rise further. Everyday prices are rising. It is giving growers reason to
hold back supplies. Many growers expect the price to cross `.200
per kg. Supply of commodities has become a major concern among local downstream
commodity based industry players.
Tyre makers kept lower inventory as prices
were falling and now due to sudden rise in prices they want to restock
inventory, but suppliers are not ready to supply at the current
level. Due to rise in international prices, even imports are slowing down. Tyre
manufacturers have signed fewer deals for September delivery, as prices were
falling.
Today RSS3 grade closed at `.172.63
a kg at Bangkok. RSS4 grade rubber ruled firm in the Indian market buoyed by a
jump seen in natural rubber prices in the major international market and most
probably will close around at `.195 a kg. In the
domestic futures market, the October series may close at `.192,
November at `.191 and December at `.192 a kg on the
National Multi Commodity Exchange. On TOCOM rubber futures, for October series
were trading at ¥250 a kg, November at ¥251, December at ¥252.4, January at
¥254.4 and February at ¥256.5 a kg., in current trading session for 19th
September.
Read
lot more in Rubber4U – 1st October 2012 issue
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