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06.00
Rubber Futures at Tokyo Commodity Exchange Climbed
Written By mine on Kamis, 20 September 2012 | 06.00
Commodity rubber futures at TOCOM (Tokyo Commodity Exchange) climbed down as weak crude oil prices and waning euphoria over impact of stimulus measures in Japan and USA put downward pressure on markets.
Rubber producing majors such as Thailand, Indonesia and Malaysia have taken measures for stabilizing rubber prices through export cuts, production cuts. Thailand government has approved an additional 30 bn baht ($947.34 mn) for market intervention programmes.
At India’s National Multi Commodity Exchange, Rubber October contract ahs key support at Rs 18300,18000 levels while resistance is seen at Rs 193, 195 levels. Rubber remains sideways to bullish for the short term but weakness in automobile industry and GDP growth at 5.5% levels will impact demand for the commodity, according to Sreekumar Raghavan, Chief Commodity Strategist at Commodity Online Group. In the global market, fundamentals continue to be supportive of rubber prices. Rubber supplies is estimated to have increased by 4.7% to 10.83 mn tonnes while consumption has risen 4.8% to 11.59 mn tonnes, according to Kamarul Baharain Basir, Secretary General of the Association of Natural Rubber Producing Countries (ANRPC).
In India the world’s fourth biggest natural rubber producer India’s imports advanced sharply by 21% year-on-year to 95,047 tons in the first five months of the 2012-2013 fiscal year while its exports dropped significantly by 53% year-on-year to 6,230 tons, as per latest data released by the Rubber Board.
According to the data, country imported 78,423 tons of natural rubber in the first five months of 2011-12 fiscal while its exported 13,298 tons of natural rubber. Spot rubber prices monitored by Rubber Board of India had risen to Rs 195 per kg this week and retraced to Rs 193 per kg levels on Wednesday.
Rubber producing majors such as Thailand, Indonesia and Malaysia have taken measures for stabilizing rubber prices through export cuts, production cuts. Thailand government has approved an additional 30 bn baht ($947.34 mn) for market intervention programmes.
At India’s National Multi Commodity Exchange, Rubber October contract ahs key support at Rs 18300,18000 levels while resistance is seen at Rs 193, 195 levels. Rubber remains sideways to bullish for the short term but weakness in automobile industry and GDP growth at 5.5% levels will impact demand for the commodity, according to Sreekumar Raghavan, Chief Commodity Strategist at Commodity Online Group. In the global market, fundamentals continue to be supportive of rubber prices. Rubber supplies is estimated to have increased by 4.7% to 10.83 mn tonnes while consumption has risen 4.8% to 11.59 mn tonnes, according to Kamarul Baharain Basir, Secretary General of the Association of Natural Rubber Producing Countries (ANRPC).
In India the world’s fourth biggest natural rubber producer India’s imports advanced sharply by 21% year-on-year to 95,047 tons in the first five months of the 2012-2013 fiscal year while its exports dropped significantly by 53% year-on-year to 6,230 tons, as per latest data released by the Rubber Board.
According to the data, country imported 78,423 tons of natural rubber in the first five months of 2011-12 fiscal while its exported 13,298 tons of natural rubber. Spot rubber prices monitored by Rubber Board of India had risen to Rs 195 per kg this week and retraced to Rs 193 per kg levels on Wednesday.
00.13
Thailand Keep to Rise Rubber Prices 2012 Include Natural Rubber
Written By mine on Kamis, 19 Januari 2012 | 00.13
Thailand keep to rise rubber prices 2012 include natural rubber, agriculture and Cooperatives Minister Theera Wongsamut has predicted that the country’s natural rubber prices should rise to 120 baht (RM11.84) per kilogram over the next couple of months due to the limited market supply.
Thailand agriculture minister and local rubber farmers agreed to six solutions to raise Thailand’s rubber prices, including keeping about 200,000 tonnes of natural rubber at official warehouses to boost its prices, Thai News Agency (TNA) reported.
Theera said that the Thai Cabinet will give a nod for the Rubber Estate Organization and farmers’ organizations to spend about 10 billion baht on the absorption of the 200,000-tonne natural rubber supply and will later market it at appropriately higher prices.
Thailand agriculture minister also confirmed that official financial aid will eventually reach all flood-affected rubber farmers, with the Bank for Agriculture and Agricultural Cooperatives (BAAC) having transferred 7.92 billion baht to the over 300,000 affected farmers, out of initial financial aid worth 8.17 billion baht for the flood-hit rubber growers and another 18 billion baht is being paid to the remaining affected rubber farmers. Convinced by the minister, the rubber farmers, who had rallied in Rattaphum District of Songkhla
Province in the Thai South, blocking Bangkok-bound lanes of Phetkasem Highway and threatening to move to the residence of Prime Minister Yingluck Shinawatra in Bangkok, dispersed on Wednesday.
Thailand agriculture minister and local rubber farmers agreed to six solutions to raise Thailand’s rubber prices, including keeping about 200,000 tonnes of natural rubber at official warehouses to boost its prices, Thai News Agency (TNA) reported.
Theera said that the Thai Cabinet will give a nod for the Rubber Estate Organization and farmers’ organizations to spend about 10 billion baht on the absorption of the 200,000-tonne natural rubber supply and will later market it at appropriately higher prices.
Thailand agriculture minister also confirmed that official financial aid will eventually reach all flood-affected rubber farmers, with the Bank for Agriculture and Agricultural Cooperatives (BAAC) having transferred 7.92 billion baht to the over 300,000 affected farmers, out of initial financial aid worth 8.17 billion baht for the flood-hit rubber growers and another 18 billion baht is being paid to the remaining affected rubber farmers. Convinced by the minister, the rubber farmers, who had rallied in Rattaphum District of Songkhla
Province in the Thai South, blocking Bangkok-bound lanes of Phetkasem Highway and threatening to move to the residence of Prime Minister Yingluck Shinawatra in Bangkok, dispersed on Wednesday.
08.01
Natural Rubber Export Indonesia 2011 Drop on weaker Rubber Demand
Written By mine on Jumat, 18 November 2011 | 08.01
Natural rubber exports Indonesia in the fourth quarter are seen dropping to 500,000 tonnes, from more than 600,000 tonnes per quarter so far this year, on weaker demand from key consumers such as China, an industry official said on Friday.
Worries about slowing demand could lead growers in the world?s second-biggest rubber producer to cut exports if prices keep falling, the country?s rubber association said, ahead of a meeting at the end of this week by top producers to discuss the market.
?Our natural rubber demand from the international market, especially from China and other parts of the globe, has been starting to weaken since October,? Suharto Honggokusumo, executive director of industryassociation Gapkindo, told Reuters.
?We estimate that in the fourth quarter our exports may reach around 500,000 tonnes.?
Indonesia?s January-to-September natural rubber exports were 1.94 million tonnes, up from 1.7 million tonnes in the same period in 2010, Honggokusumo said.
Honggokusumo said he was still optimistic the country?s total natural rubber exports in 2011 would reach 2.4 million tonnes, up from last year?s annual exports of 2.2 million tonnes, but below an earlier forecast for 2.6 millionthis year.
Slowing demand from top consumer China, which accounts for about 35 percent of global consumption, has led it to increase rubber stocks in several tyre-making industrial centres such as in Shandong province, he said.
?Natural rubber prices are down now at $3.3 per kg and Gapkindo has been asking its members to halt rubber exports if the price falls below $3.0 per kg,? Honggokusumo said.
Such a move by the world?s second-largest rubber producer would mirror a recent export ban self-imposed by tin smelters seeking to prop up global tin prices. Indonesia is the world?s top tin exporter.
Tokyo rubber futures ended lower on Friday on profit-taking after recent gains, but prices were still propped up by expectations of further intervention by major producing countries this weekend, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for April delivery fell 5.1 yen to settle at 273.5 yen ($3.55) per kg.
The world?s top three rubber-producing countries ? Thailand ? Indonesia and Malaysia ? are meeting in Bangkok where a decision on measures to stabilise falling rubber prices is expected on Saturday.
Benchmark Thai smoked rubber sheet (RSS3) has almost halved from a record high of $6.40 per kg in February. It ended at $3.45 per kg on Friday.
Worries about slowing demand could lead growers in the world?s second-biggest rubber producer to cut exports if prices keep falling, the country?s rubber association said, ahead of a meeting at the end of this week by top producers to discuss the market.
?Our natural rubber demand from the international market, especially from China and other parts of the globe, has been starting to weaken since October,? Suharto Honggokusumo, executive director of industryassociation Gapkindo, told Reuters.
?We estimate that in the fourth quarter our exports may reach around 500,000 tonnes.?
Indonesia?s January-to-September natural rubber exports were 1.94 million tonnes, up from 1.7 million tonnes in the same period in 2010, Honggokusumo said.
Honggokusumo said he was still optimistic the country?s total natural rubber exports in 2011 would reach 2.4 million tonnes, up from last year?s annual exports of 2.2 million tonnes, but below an earlier forecast for 2.6 millionthis year.
Slowing demand from top consumer China, which accounts for about 35 percent of global consumption, has led it to increase rubber stocks in several tyre-making industrial centres such as in Shandong province, he said.
?Natural rubber prices are down now at $3.3 per kg and Gapkindo has been asking its members to halt rubber exports if the price falls below $3.0 per kg,? Honggokusumo said.
Such a move by the world?s second-largest rubber producer would mirror a recent export ban self-imposed by tin smelters seeking to prop up global tin prices. Indonesia is the world?s top tin exporter.
Tokyo rubber futures ended lower on Friday on profit-taking after recent gains, but prices were still propped up by expectations of further intervention by major producing countries this weekend, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for April delivery fell 5.1 yen to settle at 273.5 yen ($3.55) per kg.
The world?s top three rubber-producing countries ? Thailand ? Indonesia and Malaysia ? are meeting in Bangkok where a decision on measures to stabilise falling rubber prices is expected on Saturday.
Benchmark Thai smoked rubber sheet (RSS3) has almost halved from a record high of $6.40 per kg in February. It ended at $3.45 per kg on Friday.
09.13
Rubber Decline as Manufacturing Fell Than Forecast and Silver Slump
Written By mine on Selasa, 03 Mei 2011 | 09.13
Rubber declined almost to a six-week low after data showed manufacturing in China, the world?s largest consumer, fell more than economists forecast and as a slump in silver spurred selling of industrial commodities.
The October-delivery contract lost as much as 3.7 percent to 374.6 yen a kilogram ($4,615 a metric ton) on the Tokyo Commodity Exchange, before paring losses to settle at 386.8 yen as the U.S. dollar advanced against the Japanese currency after President Barack Obama said al-Qaeda leader Osama bin Laden had been killed. Futures fell to a six-week low of 372.2 yen in after-hours trade April 27.
The Purchasing Managers? Index fell to 52.9 in April from 53.4 in March, China?s logistics federation and the statistics bureau said in an e-mail yesterday. That was below a median forecast of 53.9 in a Bloomberg News survey of 20 economists. The drop indicated that growth may moderate in the world?s second-biggest economy after the government raised interest rates and allowed faster gains in the yuan.
?The data showing a slowdown in the Chinese economy raised concern that the nation?s raw material demand may weaken,? Kazuhiko Saito, an analyst at broker Fujitomi Co. in Tokyo, said today by phone.
Zhang Liqun, a senior researcher at the State Council?s Development Research Center, said in a statement yesterday that the data show an increased likelihood that growth will slow. China?s gross domestic product expanded 9.7 percent in the first quarter from a year earlier and the World Bank last week forecast a full-year expansion of 9.3 percent.
Fastest Inflation
Premier Wen Jiabao?s government aims to counter the fastest inflation since 2008 and cool a real-estate market that has been at risk of price bubbles. Credit Suisse Group AG says the nation?s fifth increase in benchmark rates since the global financial crisis may come as early as today, a Chinese holiday, less than a month after the previous move.
Rubber was also sold as silver futures on the Comex in New York plunged as much as 13.2 percent, spurring investor sales of industrial raw materials, Saito said. The precious metal slumped as CME Group Inc., the Comex parent, increased the minimum amount of cash that traders must deposit for speculative trades.
Silver for July delivery dropped to $42.2 an ounce before trading at $44.825 an ounce at 3:52 p.m. Tokyo time. The CME increased the so-called initial margin by 13 percent to $14,513 per contract from $12,825 after the close of business on Friday. Margins were $4,250 a year ago.
Weak Yen
The yen weakened against the dollar, raising the appeal of yen-denominated futures, after Laden?s killing was announced. The yen slipped as much as 0.6 percent to 81.69 per dollar from 81.19 on April 29.
Rubber also declined amid speculation that supply from Southeast Asian producers will expand, Saito said. Natural rubber output will increase in the coming weeks as farmers resume harvesting after the traditional low-production season, easing a ?tightness? in global supplies, the Association of Natural Rubber Producing Countries said in a report last week.
Production from its member countries, representing 92 percent of global supply, may climb 10.5 percent to 2.3 million tons in the three months through June, the group said in a monthly bulletin. Output in the first quarter is estimated to have advanced 6.1 percent to 2.27 million tons, the group said.
The October-delivery contract lost as much as 3.7 percent to 374.6 yen a kilogram ($4,615 a metric ton) on the Tokyo Commodity Exchange, before paring losses to settle at 386.8 yen as the U.S. dollar advanced against the Japanese currency after President Barack Obama said al-Qaeda leader Osama bin Laden had been killed. Futures fell to a six-week low of 372.2 yen in after-hours trade April 27.
The Purchasing Managers? Index fell to 52.9 in April from 53.4 in March, China?s logistics federation and the statistics bureau said in an e-mail yesterday. That was below a median forecast of 53.9 in a Bloomberg News survey of 20 economists. The drop indicated that growth may moderate in the world?s second-biggest economy after the government raised interest rates and allowed faster gains in the yuan.
?The data showing a slowdown in the Chinese economy raised concern that the nation?s raw material demand may weaken,? Kazuhiko Saito, an analyst at broker Fujitomi Co. in Tokyo, said today by phone.
Zhang Liqun, a senior researcher at the State Council?s Development Research Center, said in a statement yesterday that the data show an increased likelihood that growth will slow. China?s gross domestic product expanded 9.7 percent in the first quarter from a year earlier and the World Bank last week forecast a full-year expansion of 9.3 percent.
Fastest Inflation
Premier Wen Jiabao?s government aims to counter the fastest inflation since 2008 and cool a real-estate market that has been at risk of price bubbles. Credit Suisse Group AG says the nation?s fifth increase in benchmark rates since the global financial crisis may come as early as today, a Chinese holiday, less than a month after the previous move.
Rubber was also sold as silver futures on the Comex in New York plunged as much as 13.2 percent, spurring investor sales of industrial raw materials, Saito said. The precious metal slumped as CME Group Inc., the Comex parent, increased the minimum amount of cash that traders must deposit for speculative trades.
Silver for July delivery dropped to $42.2 an ounce before trading at $44.825 an ounce at 3:52 p.m. Tokyo time. The CME increased the so-called initial margin by 13 percent to $14,513 per contract from $12,825 after the close of business on Friday. Margins were $4,250 a year ago.
Weak Yen
The yen weakened against the dollar, raising the appeal of yen-denominated futures, after Laden?s killing was announced. The yen slipped as much as 0.6 percent to 81.69 per dollar from 81.19 on April 29.
Rubber also declined amid speculation that supply from Southeast Asian producers will expand, Saito said. Natural rubber output will increase in the coming weeks as farmers resume harvesting after the traditional low-production season, easing a ?tightness? in global supplies, the Association of Natural Rubber Producing Countries said in a report last week.
Production from its member countries, representing 92 percent of global supply, may climb 10.5 percent to 2.3 million tons in the three months through June, the group said in a monthly bulletin. Output in the first quarter is estimated to have advanced 6.1 percent to 2.27 million tons, the group said.
04.23
Domestic Future Markets, India Natural Rubber Prices Fall per Kg
Written By mine on Kamis, 24 Februari 2011 | 04.23
Natural Rubber prices today fell by Rs seven to Rs 231 per kg in the domestic market due to fall in the prices in the International and domestic future markets.
The prices of natural rubber yesterday at the Kottayam market were ruling at Rs 238 per kg.
"Fall in prices of rubber in the international market, Tokyo Commodity exchange (TOCOM) and in the domestic market has affected the prices in the physical markets here," Indian Rubber Dealers Association President George Valy told PTI.
"Internationally there is lot of voltality in the prices of rubber," Valy added.
Prices of natural rubber in the Bangkok market closed at Rs 289.31 per kg as against Rs 292.05 per kg yesterday.
"The prices in the domestic future markets have been affected due to a fall in the prices in TOCOM," National Multi Commodity Exchange Chief Executive Office Anil Mishra told PTI.
"The prices of rubber at Shanghai, the largest consumer, have also fallen as the demand from China is declining and this has again affected the prices," Mishra added.
A two-day Rubber Convention began here today aiming to bring together the government, private investors, rubber growers and traders in a common platform in an initiative by the Confederation of Indian Industries (CII).
CII officials said that the convention included conclave and exhibition for identifying business opportunities through exchange of ideas, knowledge and experience as well as to apprise the rubber growers on intermediary and affordable technologies for rubber processing.
At the conclave, Tripura Industrial Development Corporation (TIDC) Pabitra Kar addressed the key issues in enabling investors to consider Tripura as an important investment destination and the need for cost-effective processing technologies.
''The exhibition showcased the technology required in cultivation, harvest and processing stages and how it would help the entrepreneurs to know about intermediate technology available for rubber processing and enable them to move up the value chain, create business prospect and adopt market-driven practices,'' Mr Kar said.
As many as 25 investment groups and top officials of CII and All India Rubber Industries Association (AIRIA) have attended the conclave while hundreds of rubber growers from different parts of the state participated in the programme.
The CII officials pointed out, being the second largest quality latex producer state in the country, Tripura required to expose rubber processing technologies and machineries.
The prices of natural rubber yesterday at the Kottayam market were ruling at Rs 238 per kg.
"Fall in prices of rubber in the international market, Tokyo Commodity exchange (TOCOM) and in the domestic market has affected the prices in the physical markets here," Indian Rubber Dealers Association President George Valy told PTI.
"Internationally there is lot of voltality in the prices of rubber," Valy added.
Prices of natural rubber in the Bangkok market closed at Rs 289.31 per kg as against Rs 292.05 per kg yesterday.
"The prices in the domestic future markets have been affected due to a fall in the prices in TOCOM," National Multi Commodity Exchange Chief Executive Office Anil Mishra told PTI.
"The prices of rubber at Shanghai, the largest consumer, have also fallen as the demand from China is declining and this has again affected the prices," Mishra added.
A two-day Rubber Convention began here today aiming to bring together the government, private investors, rubber growers and traders in a common platform in an initiative by the Confederation of Indian Industries (CII).
CII officials said that the convention included conclave and exhibition for identifying business opportunities through exchange of ideas, knowledge and experience as well as to apprise the rubber growers on intermediary and affordable technologies for rubber processing.
At the conclave, Tripura Industrial Development Corporation (TIDC) Pabitra Kar addressed the key issues in enabling investors to consider Tripura as an important investment destination and the need for cost-effective processing technologies.
''The exhibition showcased the technology required in cultivation, harvest and processing stages and how it would help the entrepreneurs to know about intermediate technology available for rubber processing and enable them to move up the value chain, create business prospect and adopt market-driven practices,'' Mr Kar said.
As many as 25 investment groups and top officials of CII and All India Rubber Industries Association (AIRIA) have attended the conclave while hundreds of rubber growers from different parts of the state participated in the programme.
The CII officials pointed out, being the second largest quality latex producer state in the country, Tripura required to expose rubber processing technologies and machineries.
