Monday, June 9, 2014

Be cautious


A decision by Thailand's military government to suspend a plan to sell 200,000 tonnes of rubber from stocks has done little to support Tokyo's benchmark prices. Rubber inventory in China has dropped in recent weeks to below 160,000 tonnes, but stocks in the bonded warehouses remain high at around 360,000 tonnes. The high rubber inventory in Qingdao suggests speculators are still using the commodity as collateral for financing.

Tyre grade prices are likely to fall again next week as consumers wait for bargains.

Finance Minister Arun Jaitley will meet captains of Indian industry to elicit their views on the Union Budget, which is likely to be presented in the first week of July.

Today, the benchmark RSS4 grade rubber closed at `.144.50 a kg at Kottayam, while RSS3 grade closed at `.120.09 a kg at Bangkok and Malaysian SMR20 closed at `.98.92 a kg. On National Multi Commodity Exchange, June 2014 futures closed at `.143.81 a kg, July at `.144.41, August at `.141.67, September at `.141.37 and October at `.140.790 a kg, while Mini Rubber contract closed at `.142.26 a kg. On Tokyo Commodity Exchange, June 2014 futures series closed at ¥183.6 a kg, July at ¥185.3, August at ¥186.9, September at ¥190, October at ¥192.6 and the contract for delivery in November 2014 closed at ¥193.8 a kg. On Tuesday, the market is expected to trade in positive trend.

For latest rate of Currency Exchange: www.rubber4u.com/Statistic/Notices
Read lot more in Rubber4U – 15th June 2014 issue

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