Friday, May 13, 2016

Soft launch for new market


The International Tripartite Rubber Council (ITRC) said ITRC members Thailand, Indonesia and Malaysia have announced the soft launch of a regional rubber market (RRM). The trade platform is anticipated to be operational by June 2016. They had selected potential sellers to trade on the platform and will next invite buyers to register and trade on the platform, said ITRC’s operational arm, the International Rubber Consortium (IRCo).

It was reported by the International Rubber Study Group that global natural rubbber stock in September 2015 was 2.8 million tonnes compared with 3.2 million tonnes in 2014.

U.S. oil futures moved lower on Friday, as renewed concerns over a global supply glut and a stronger U.S. dollar weighed. U.S crude futures for June delivery were down 1.13% at $46.17 a barrel.

Russian company, Omsk Carbon Group (OCG) is increasing prices for its carbon black products with effect from 1st June.

The benchmark RSS4 grade rubber closed at `.129 a kg at Kottayam, while RSS3 grade closed at `.118.63 a kg at Bangkok and Malaysian SMR20 closed at `.94.07 a kg. On National Multi Commodity Exchange May 2016, the futures closed at `.129.67 a kg, June at `.125.46, July at `.125.68 and August 2016 closed at `.125.68 a kg. Tokyo Commodity Exchange May 2016 futures series closed at ¥164 a kg, June at ¥168.4, July at ¥169.9, August at ¥170.1, September at ¥171.4 and the contract for delivery in October 2016 closed at ¥173.1 a kg.

To read Rubber4U – 15th May 2016 issue: http://rubber4u.com/Public/Abcd.pdf
For 2015-16 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf

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