The continued concerns about Europe and now the uncertainty about
the U.S election. There is some support for oil because of some expectation
that the lower prices will prompt some demand.
According to International Rubber Study Group, India’s demand for
both synthetic and natural rubber is expected to rise to 2.7 million tonnes by
2021. During January-September period, Ivory Coast’s natural rubber exports
increased 15% to 199277 tonnes, on y-o-y basis and according to Vietnam’s
General Statistics Office, the country’s rubber exports are anticipated to rise
61% to 100000 tonnes this month. Rubber inventories in the warehouses monitored
by SHFE rose 5.3% to 62965 tonnes in the previous week.
The spot price of RSS4 grade rubber in the
Kottayam market closed at `.174.50 per kg. The
price of RSS3 grade at Bangkok closed at `.160.61 per kg, while
Malaysian SMR 20, which Indian tyre makers prefer to import, closed at `.148.93
a kg. On TOCOM rubber futures, November series closed at ¥237 a kg, December at
¥237.7, January at ¥241.3.4, February at ¥243, March at ¥244.9 and April at ¥246.4
a kg.
Don’t expect the rubber price to show
immediate rise. Still lot more down side has to be seen, as the economic outlook
is still weak.
Read
lot more in Rubber4U – 15th November 2012 issue
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