Sunday, April 26, 2015

Market in a bullish mood


Tocom benchmark rubber futures will inch up on Monday, helped by higher oil and metals prices. After posting a second straight weekly gain, Tokyo Commodity Exchange rubber contract for October delivery is expected to trade in a positive range of ¥206 & ¥214 a kg. China is expected to bolster its cooling economy as its policymakers still have room to increase support and world no. 1 natural rubber supplier, Sri Trang Agro-Industry and other leading rubber producers in Asia plan to raise prices sharply, ditching a system of pegging them near the benchmark set by the SICOM exchange in Singapore.

The benchmark RSS4 grade rubber closed at `.121 a kg at Kottayam, while RSS3 grade closed at `.108.77 a kg at Bangkok and Malaysian SMR20 closed at `.89.22 a kg. On National Multi Commodity Exchange May 2015 futures closed at `.121.07 a kg, June at `.124.17 and July at `.126.15 a kg. On Tokyo Commodity Exchange, May 2015 futures series closed at ¥205.2 a kg, June at ¥206.3, July at ¥205.6, August at ¥205.4, September at ¥205.4 and the contract for delivery in October 2015 closed at ¥206 a kg.

To read Rubber4U – 1st May 2015 issue: http://rubber4u.com/Public/Abcd.pdf

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