Today, Tokyo Commodity Exchange rubber futures
fell after long national holiday in Japan and slowing demand in China due to biggest
fall in China’s factory activity. The Tocom rubber contract for February
delivery had fallen ¥5.7 per kg. According to a private survey, activity in
China’s factory sector unexpectedly shrank to a six and half year low in
September, raising fears of a sharper slowdown.
The Shanghai rubber futures contract ended
lower over concerns of slowing demand from China's automobile industry. Overall
investor sentiment remains uncertain after the Federal Reserve declined to
raise interest rates for the first time since 2006 last week.
Oil prices, along with the overall
commodities sector, have been increasingly sensitive to any negative news on
China's economy in recent weeks. Global oil markets tumbled on Wednesday, and
on Thursday closed in green, WTI crude futures closed at US$ 44.91 per barrel, while
Brent crude futures closed at US$ 48.17 a barrel.
Today the benchmark RSS4 grade rubber closed
at `.112 a kg at Kottayam, while RSS3 grade closed at `.87.42
a kg at Bangkok and Malaysian SMR20 closed at `.80.92 a kg. On
National Multi Commodity Exchange October 2015 futures closed at `.114.45
a kg, November at `.113.80, December at `.113.92 and January
2016 closed at `.114.09 a kg. On Tokyo Commodity Exchange, September 2015
futures series closed at ¥156 a kg, October at ¥155.4, November at ¥158.6, December
2015 at ¥161.5, January 2016 at ¥164.2, and the contract for delivery in February
2016 closed at ¥165.6 a kg.
To read Rubber4U – 1st October
2015 issue: http://rubber4u.com/Public/Abcd.pdf
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