The natural rubber futures are gaining here
on price-supporting measures by producing countries, with the August contract
for a benchmark product trading at a seven-month high on the Tokyo Commodity
Exchange.
The most actively traded September contract closed
at ¥180.5 per kg, higher than the recent low in early February. Prices are also
climbing because many producing countries are entering the dry season; output
is expected to drop about 20% till May. The price of crude oil, which is used
to make synthetic rubber, is on the rise. Thailand, Indonesia and Malaysia plans
to cut total exports by 615,000 tonnes over the six months starting in March
will also help in pushing up prices. Recently, Indonesian government announced
that it will buy 500,000 tonnes of natural rubber.
The benchmark RSS4 grade rubber closed at `.114
a kg at Kottayam, while RSS3 grade closed at `.101 a kg at Bangkok
and Malaysian SMR20 closed at `.89.13 a kg. On
National Multi Commodity Exchange April 2016, the futures closed at `.117.66
a kg, May at `.119.01 and June 2016 closed at `.120.39
a kg. Tokyo Commodity Exchange April 2016 futures series closed at ¥170.7 a kg,
May 2016 at ¥172.1, June at ¥174.8, July at ¥177.5, August at ¥179.3 and the
contract for delivery in September 2016 closed at ¥180.5 a kg. On Tuesay, most
probably Tocom futures contract for delivery in September 2016 may trade in the
range of ¥182 & ¥176 a kg.
For 2015-16 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf
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