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.
What our readers say: http://rubber4u.com/Public/Views.pdf
Read
lot more in Rubber4U – 15th June 2014 issue
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