More action in waiting

Rubber contract on Tokyo Commodity Exchange for January delivery rose to a 10 weeks high of ¥261.3 per kg. The contract jumped after China's industrial output rose 9.7% in July. Most Asian stocks rose as concern eased that growth in China is slowing and after U.S. jobless claims fell to the lowest monthly rate since before the financial crisis. Demand for rubber will improve and China’s natural rubber imports gained 16% in July from a month earlier to 150,000 tonnes. According to the Japan Automobile Tyre Manufacturers Association, Japan’s new vehicle tyre sales rose 14% on month to 4.45 million units in July. Crude rubber inventories at Japanese ports fell to 8,470 tonnes as of 31st July, down by 1,722 tonnes, the lowest level since 20th January, according to Rubber Trade Association of Japan.

At Kottayam, RSS4 grade closed at `.196 a kg, while RSS3 grade closed at `.155.58 a kg at Bangkok. On the Tokyo Commodity Exchange, August futures series closed at ¥256.5, September at ¥258.7, October at ¥258.4, November at ¥258.3, December at ¥259.7 and the contract for delivery in January 2014 closed at ¥261.3 a kg, after touching a high of ¥264 and low of ¥257.7 a kg. While on the National Multi Commodity Exchange August futures closed at `.195.77 a kg, September at `.185.78, October at `.176.23, November at `.170 and December at `.169.10 a kg.