On Tokyo Commodity Exchange, RSS3 grade natural
rubber hit a five-month high, while synthetic rubber also climbed on the back
of rising crude oil prices, WTI is currently trading at US$49.81 per barrel,
while Brent is trading at US$51.93 per barrel. The RSS3 grade contract for
March delivery rose to ¥175.3 a kg and settled at ¥173.7 per kg. Synthetic rubber
also has been climbing in Asian markets as trader’s price in oil gains. Chinese
demand for natural rubber remains strong, port inventories are substantial.
Under the ‘Pradhan Mantri Kausal Vikas
Yojana’, the government of India has given approval for a scheme for the skill
development in small rubber holders’ sector. The Rubber Board will implement
the scheme with the active cooperation of National Skill Development
Corporation and Rubber Skill Development Council.
The benchmark RSS4 grade rubber closed at `.116.50
a kg at Kottayam, while RSS3 grade closed at `.111.82 a kg at Bangkok
and Malaysian SMR20 closed at `.98.02 a kg. On
National Multi Commodity Exchange October 2016 futures closed at `.117.51
a kg, November at `.119.09, December at `.120.02 and January
2017 closed at `.120 a kg. Tokyo Commodity Exchange October 2016 futures
series closed at ¥173.1 a kg, November at ¥172.7, December at ¥173, January
2017 at ¥173.9, February at ¥173.2 and the contract for delivery in March 2017
closed at ¥173.7 a kg.
For 2016-17 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf
