Crude oil prices remained steady but at low
levels as concerns remained that high global production was being met by
increasingly slowing demand. Oil prices have fallen almost 60% since June 2014
on a global supply glut, while production remained near record highs.
In India, natural rubber production rose 7.8%
in August to 55,000 tonnes compared to 51,000 tonnes during August 2014, while consumption
grew to 87,500 tonnes from 86,300 tonnes in August 2014. Natural rubber imports
fell 32% to 33,292 tonnes, compared to same period of 2014.
During the April-August 2015 period, natural
rubber production fell 11% to 2.42 lakh tonnes from 2.72 lakh tonnes during
same period of 2014. Consumption declined by 1.7% to 418,080 tonnes from 425,285
tonnes. Imports decreased to 178,756 tonnes from 192,966 tonnes. However,
exports grew to 194 tonnes during April-August 2015 from 184 tonnes in the same
period of 2014.
Today the market was in positive trend and
can expect the same tomorrow also. The benchmark RSS4 grade rubber closed at `.112
a kg at Kottayam, while RSS3 grade closed at `.90.72 a kg at
Bangkok and Malaysian SMR20 closed at `.84.99 a kg. On
National Multi Commodity Exchange September 2015 futures closed at `.113.68
a kg, October at `.113.58, November at `.113.47, December at `.113.33
and January 2016 closed at `.113 a kg. On Tokyo
Commodity Exchange, September 2015 futures series closed at ¥162.9 a kg,
October at ¥166.2, November at ¥168.1, December 2015 at ¥171, January 2016 at ¥173.4,
and the contract for delivery in February 2016 closed at ¥174.3 a kg. On Thursday,
most probably Tocom futures contract for delivery in February 2016 may trade in
the range of ¥169 & ¥176 a kg.
To read Rubber4U – 15th September
2015 issue: http://rubber4u.com/Public/Abcd.pdf
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