Thailand’s interventions in the natural rubber
market are propping up prices and keeping supplies tight. The global benchmark
futures on Tokyo Commodity Exchange posted gains this week, hitting a one-month
high of ¥218.5 a kg. The benchmark Tocom rubber contract for July delivery ended
down by 1% or ¥2.1 per kg at ¥212.4 per kg, on Tuesday.
According to Rubber Trade Association of
Japan, crude rubber inventories at Japanese ports stood at 12976 tonnes as of 20th
January, down 0.5% from 10 days earlier figure. While rubber inventories in the
warehouses monitored by SHFE rose 0.1% last week to 164821 tonnes.
The United States is set to slap more duties
on imports of tyres from China after the Department of Commerce determined they
were sold too cheaply in the United States.
India's natural rubber output in January 2015
dropped to 60,000 tonnes compared to 89,000 tonnes in January 2014, as some
farmers curtailed tapping due to lower prices. While the consumption during the
month rose only 0.78% to 84,000 tonnes from 83,345 tonnes in January 2014,
prompting tyre makers to increase imports by 10.65% to 30,441 tonnes from
27,511 tonnes.
The benchmark RSS4 grade rubber closed at `.137.10
a kg at Kottayam, while RSS3 grade closed at `.114.23 a kg at
Bangkok and Malaysian SMR20 closed at `.86.47 a kg. On
National Multi Commodity Exchange February 2015 futures closed at `.125.07
a kg, March at `.125.75, April at `.126.67 and May at `.129.40
a kg. On Tokyo Commodity Exchange, February 2015 futures series closed at ¥212 a
kg, March at ¥213.6, April at ¥215.4, May at ¥215.7, June at ¥214.8 and the
contract for delivery in July 2015 closed at ¥212.4 a kg.
No comments:
Post a Comment