Tuesday, March 10, 2015

Dependency on import increases


Tokyo Commodity Exchange futures touched a one month intraday low of ¥206.6 a kg on Monday, still higher than it’s lowest in more than five years hit in October 2014. While today it fell by -1.9, ending the day at ¥208.7 a kg, as a yen regained some ground in late trade after hitting an eight-year low against the U.S dollar and also due to worry over slowing demand in China.

In February 2015, natural rubber production in India fell by 13.5% to 50,000 tonnes from 57,800 tonnes, while consumption increased to 82,500 tonnes from 79,375 tonnes in February 2014. Natural rubber imports in February jumped nearly 42% to 28,806 tonnes from a year earlier as lower prices in the world market prompted tyre makers to raise overseas purchases.

The benchmark RSS4 grade rubber closed at `.134.15 a kg at Kottayam, while RSS3 grade closed at `.111.81 a kg at Bangkok and Malaysian SMR20 closed at `.87.82 a kg. On National Multi Commodity Exchange March 2015 futures closed at `.120.18 a kg, April at `.123.94 and May at `.125.02 a kg. On Tokyo Commodity Exchange, March 2015 futures series closed at ¥212.7 a kg, April at ¥211.7, May at ¥212, June at ¥211.5, July at ¥209.2 and the contract for delivery in August 2015 closed at ¥208.7 a kg.

To read Rubber4U – 15th March 2015 issue: http://rubber4u.com/Public/Abcd.pdf
For Union Budget 2015-16 Highlights visit: www.rubber4u.com

No comments:

Post a Comment