Oil prices climbed after jobs data from the
US beat expectations, boosting confidence in the world’s biggest economy. Rubber
climbed as Japan’s currency declined to a five-week low against the dollar,
boosting the appeal of yen-denominated contracts. The currency is currently
trading at 101.21 against dollar at 11.33 GMT. Today, rubber contract on the
Tokyo Commodity Exchange for delivery in December declined to ¥240.1 a kg,
after touching a high of ¥247.8 a kg.
In the Indian market, shortage of natural
rubber is pushing up prices. At Kottayam, RSS4 grade closed at `.190
a kg, while RSS3 grade closed at `.160.24 a kg at
Bangkok and Malaysian SMR20 closing at `.131.96 a kg.
India’s Finance Ministry has extended the validity of
existing anti-dumping duty on rubber chemicals - MBT, CBS, TDQ, PVI, and TMT
imported from China and PX-13 (6PPD) imported from South Korea, will remain in
force till 4th May 2014.
No comments:
Post a Comment