Car sales in UK jumped by almost 15% in April
2013, compared to April 2012 and 9% higher in the first four months of 2013,
which is an encouraging indication for the UK economy. The health of the UK car
market stands in sharp contrast to Europe, where sales slumped by more than 10%
in March. Despite the buoyant start to the year, car market faces difficult
conditions in the coming months as their purchasing power is squeezed by higher
inflation and muted wage growth. Companies are also under pressure to contain
costs and weak business confidence.
The yen weakened to 99.12 per dollar, nearing
to a four year low of 99.95. Rubber inventory in Qingdao, China’s main hub for
the commodity rose to a record high, as imports gained while demand remained
tepid amid slowing economic growth. China may step up rubber purchases on hopes
for demand recovery later this year, hence, may increase imports of the natural
rubber to take advantage of low international prices.
Today, RSS4 grade in the domestic spot market will trade
with positive note and may close around `.168 a kg. The price
of RSS3 grade closed at `.163.54 per kg at Bangkok, while Malaysian SMR 20
closed in red at `.138.32 a kg. On the Tokyo Commodity Exchange, May
futures series closed at ¥263.5, June at ¥266.2, July at ¥270, August at ¥272,
September at ¥274.6 and the contract for delivery in October at ¥276.6 a kg.
No comments:
Post a Comment