The year 2015 may be an equally challenging
one, the US Fed is determined to hike interest rates, which means a stronger
dollar. There are possibilities of the Euro Zone sinking into deflation and
Euro Zone’s inflation for December will be published on 7th January. Crude oil
prices expected to remain depressed at least in the first quarter of the year.
To analyse the situation of the rubber and
tyre industry in India, the parliamentary standing committee on commerce will
tour West Bengal, Tripura and Kerala during January-February 2015. The standing
committee will thereafter submit its report to the central government on the
state of rubber and tyre industry with recommendations to increase production
and growth of industry.
According to Rubber Board, two weeks after
the announcement by Kerala government tyre companies lifted 2,400 tonnes of RSS4
grade natural rubber from the domestic market at `130.45 a kg. “We
expect the market to improve in the coming days,” said Kerala Chief Minister
and thanked the cultivators, tyre companies, dealers and all those who
cooperated with the government’s rubber package.
Heavy rain in parts of Malaysia and Thailand
are expected to have an adverse impact on production of natural rubber, which
will result in supply shortage and in turn increase in prices. Rubber supplies
in Thailand and Malaysia will contract by at least 100,000 tonnes a month if
floods persist. Rubber has entered a bull market as flooding across Malaysia
and parts of Thailand hurt supplies. Some rubber exporters are in talks with
buyers to reschedule shipments because of rains.
The benchmark RSS4 grade rubber closed at `.130.75
a kg at Kottayam, while RSS3 grade closed at `.108.95 a kg at
Bangkok and Malaysian SMR20 closed at `.96.39 a kg. On
National Multi Commodity Exchange January 2015 futures closed at `.127.02
a kg, February 2015 at `.128.26 and March at `.128.50 a kg. On
Tokyo Commodity Exchange, January 2015 futures series closed at ¥197.2 a kg, February
at ¥203.3, March at ¥208, April at ¥210.7, May at ¥213 and the contract for
delivery in June 2015 closed at ¥214.4 a kg.
No comments:
Post a Comment