Economic data are driving commodity prices
higher. Rubber futures gained as oil and equity markets rallied on improving
U.S. service industries data. China maintained its economic growth target at
7.5% for 2013 and set
a lower inflation goal of 3.5%. China’s growth target for this year is not that
high and unlikely to boost consumption in a significant way.
Today, the contract for delivery in August
advanced as much as 1.7% to ¥292.5 a kg and closed at ¥289.1 a kg on the Tokyo Commodity
Exchange and it is expected to trade above ¥293 a kg on Thursday.
RSS4
grade rubber in India closed at `.159 a kg and the
price of RSS3 grade closed at `.164.17 per kg at
Bangkok. While Malaysian SMR 20, closed at `.157.02 a kg. On the
Tokyo Commodity Exchange, March futures series closed at ¥274.3 per kg.
Read
lot more in Rubber4U – 15th March 2013 issue
No comments:
Post a Comment