As Japan’s currency breaching 100 a dollar,
appeal for yen based contracts increased, but today rubber slumped to the
lowest level in more than a week as Japan’s currency rebounded to a one month
high. The contract for delivery in January lost as much as 3.85% to ¥241.8 a kg
on the Tokyo Commodity Exchange.
In the Indian market, shortage of natural
rubber and decrease in production has pushed up the prices. At Kottayam, RSS4
grade closed at `.195 a kg, while RSS3 grade closed at `.148.19
a kg at Bangkok and Malaysian SMR20 closed at `.129.96 a kg. On the
Tokyo Commodity Exchange, August futures series closed at ¥238.5, September at
¥238.7, October at ¥238.6, November at ¥239.8, December at ¥240.7 and the
contract for delivery in January 2014 closed at ¥241.8 a kg, after touching a
high of ¥247.8 and low of ¥240.2 a kg. While on the National Multi Commodity
Exchange August futures were trading at `.191.40 a kg, September
at `.179.15, October at `.169, November at `.163.50
and December at `.163.60 a kg at 4.00 pm IST.
Read
lot more in Rubber4U – 1st August 2013 issue
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