Today, the first meeting of the ‘India Rubber
Meet 2014’ is being inaugurated by Vikram Srikant Kirloskar, President of the
Society of Indian Automobile Manufacturers and Vice chairman of Toyota Kirloskar
Motor Pvt. Ltd. at Hotel Le-Meridien Convention Centre, Kochi-Kerala, with a
theme ‘Indian Rubber: New Horizons’. Global economic and rubber scenario,
Chinese rubber sector, developments in artificial rubber, new trends in
automobile and tyre industries are subjects which will be discussed at the
event.
India's natural rubber production as well as
consumption declined during April 2013 to January 2014 period. Natural rubber
production was 9.4% lower and consumption 0.9% lower, compared to the same
period in 2012-2013.
Rubber reserves in China almost doubled in
the past six months and rising stockpiles signal ample supply from producer
nations. The outlook for this market now with huge volumes of inventory seems
to be bear market and is poised to deepen as the global surplus may be as much
as 241,000 tonnes in 2014, extending the glut to a fourth year and stockpiles
swell. Vehicle demand in China is slowing as anti-pollution and austerity
campaigns spread.
Yesterday RSS4 grade at Kottayam closed at `.152.50
a kg. Today, the benchmark RSS3 grade closed at `.137.36 a kg at
Bangkok, while Malaysian SMR20 closed at `.121.20 a kg. Futures
on the Tokyo Commodity Exchange today dropped by the most and is expected to
drop further down in short term. February 2014 futures series closed at ¥220 a
kg, March at ¥219.2, April at ¥221.5, May at ¥223.9, June at ¥224.8 and the
contract for delivery in July 2014 closed at ¥224.4 a kg. While on National
Multi Commodity Exchange, March 2014 futures trading at `.149.22
a kg, April at `.153.57, May at `.156, June at `.157.55
and July at `.158.77 a kg, at 12.15 IST.
What our readers say: http://rubber4u.com/Public/Views.pdf
Read
lot more in Rubber4U – 1st March 2014 issue
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