Automotive Tyre Manufacturers' Association
(ATMA) the most active industry bodies representing `.50,000
crore automotive tyre industry has elected K M Mammen, chairman & managing
director of MRF Ltd. as Chairman of ATMA. While Satish Sharma, president (Asia
Pacific, Middle East and Africa) of Apollo Tyres Ltd. has been elected as Vice
Chairman.
The moves by major natural rubber exporters to
limit shipments could assist in the near-term, but a significant price movement
in the coming months is not expected. The rubber market will continue to
struggle with an overhang of stocks, encouraged by economic slowdown in China
and weak oil prices which enhance the competitiveness of synthetic rubber. The
negative economic sentiment and low petroleum prices will not support an
increase in natural rubber demand.
The benchmark RSS4 grade rubber closed at `.94
a kg at Kottayam, while RSS3 grade closed at `.87.55 a kg at
Bangkok and Malaysian SMR20 closed at `.75.14 a kg. On
National Multi Commodity Exchange February 2016, the futures closed at `.198.02
a kg, March at `.101.13, April at `.102.43 and May 2016
at `.104.07 a kg. Tokyo Commodity Exchange February 2016
futures series closed at ¥142.6 a kg, March at ¥144.6, April at ¥147.6, May
2016 at ¥150.6, June at ¥152.4 and the contract for delivery in July 2016
closed at ¥152.6 a kg.
For 2015-16 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf
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