Tuesday, July 8, 2014

Investor’s sentiment pretty bearish


International natural rubber prices once gain dropped below `.120 at Bangkok market, which (RSS3 grade) closed at `.119.72 a kg. While Malaysian SMR20 closed at `.100.71 a kg. SMR -20 almost equivalent to domestic RSS4 grade in quality is being imported to India on a large scale as the price is attractive. In June 2014, India's natural rubber imports increased 41.5% to 32,550 tonnes, due to global price advantage.

With high inventory and slack demand, investor’s sentiment is pretty bearish. The rubber stocks in China's bonded warehouses Qingdao have slipped to a five-month low, due to low demand for the commodity as loan collateral, the country still has nearly 150,000 tonnes of rubber in Shanghai.

Today the benchmark RSS4 grade rubber closed at `.143 a kg at Kottayam, while RSS3 grade closed at `.119.72 a kg at Bangkok and Malaysian SMR20 closed at `.100.71 a kg. On National Multi Commodity Exchange July 2014 closed at `.142 a kg, August at `.142.90, September at `.142, October at `.141.70, November at `.143.75 and December at `.145.80 a kg. On Tokyo Commodity Exchange, July 2014 futures series closed at ¥192.5 a kg, August at ¥195.6, September at ¥197.9, October at ¥199.9, November at ¥202.1 and the contract for delivery in December 2014 closed at ¥204 a kg.

For latest rate of Currency Exchange: www.rubber4u.com/Statistic/Notices

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