Monday, April 21, 2014

RIL inaugurates ECSC and rubber price continues down trend


Relflex Elastomers, the synthetic rubber business unit of Reliance Industries Ltd. inaugurated a customer support centre (ECSC) at its petrochemicals complex in Vadodara in Gujarat. Relflex ECSC would serve as a springboard for mutual collaborative efforts, value additions and joint product development between Relflex Elastomers and its customers. Reliance Elastomer supplies Polybutadiene Rubber (PBR) to tyre as well non-tyre industry.

The domestic natural rubber prices dropped to their lowest level in more than four years, following drop in overseas prices and on sluggish demand. Lower prices would bring down raw material costs for tyre makers, thereby boosting their profitability. The spot price of the most traded RSS-4 rubber at the Kottayam market dropped to `.140 per kg, the lowest level since 20th February 2010. RSS3 grade closed at `.128.88 a kg at Bangkok and Malaysian SMR20 closed at `.104.70 a kg. On Tokyo Commodity Exchange, April 2014 futures series closed at ¥201.7 a kg, May at ¥201, June at ¥201.7, July at ¥201.3, August at ¥201.4 and the contract for delivery in September 2014 closed at ¥201.4 a kg. On National Multi Commodity Exchange, April 2014 futures were trading at `.138.15 a kg, May at `.138.09, June at `.140.51, July at `.140.76, August at `.148.60, September at `.150.60 and October at `.152.60 a kg. Rubber Mini contract for May 2014 at `.139.25 a kg.

Read lot more in Rubber4U – 1st May 2014 issue

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