Sunday, April 15, 2018

Tricky days ahead


Oil prices fell as markets opened the week cautiously following western air strikes in Syria and as American drilling for new production continued to rise. The United States, France and Britain launched 105 missiles on 14th April, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on 7th April. Asia began cautiously after the weekend stikes, while oil markets also came under pressure from a rise in U.S. oil drilling activity.

President Vladimir Putin warned on 15th April that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions. Investors continued to worry about the impact of a wider conflict in the Middle East.

The benchmark RSS4 grade rubber closed at `.120 a kg at Kottayam, while RSS3 grade closed at `.111.95 a kg at Bangkok and Malaysian SMR20 closed at `.91.39 a kg. On National Multi Commodity Exchange April 2018, the futures closed at `.119.79 a kg, May at `.120.21 a kg, June at `.122.31 a kg and July closed at `.123.21 a kg. Tokyo Commodity Exchange April 2018 futures series closed at ¥174.9 a kg, May at ¥178.7, June at ¥183.5, July at ¥185.4, August at ¥185.3 and the contract for delivery in September closed at ¥184.8 a kg. On Monday, most probably Tocom futures contract for delivery in September 2018 may trade in the range of ¥180 & ¥185 a kg.

To read Rubber4U – 15th April 2018 issue: http://rubber4u.com/Public/Abcd.pdf
For 2017-18 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf

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