Rubber inventories in the warehouses
monitored by SHFE rose to 122137 tonnes. Thailand, the world's biggest rubber
producer and exporter, is considering discontinuing measures curbing rubber
exports as they have failed to lift prices. Thailand government has no
immediate plan to sell rubber from stockpiles as it will push prices of the
commodity lower.
According to the Indian Union Commerce and
Industry Minister Anand Sharma, import duty on natural rubber was to be hiked
soon though the Minister of State for Finance in a written reply in Lok Sabha
ruled out a hike for now.
The natural rubber market in India is strengthening.
On Tuesday, in the domestic spot market, the RSS4 grade will be trading with positive
note and may close around `.167.50 a kg. The
price of RSS3 grade closed at `.162.45 per kg at
Bangkok, while Malaysian SMR 20 closed at `.139.68 a kg. The
contract for delivery in October may close with a positive note around ¥272 a kg
on the Tokyo Commodity Exchange.
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