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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.
23.25
Natural Rubber Markets Rebound on Tokyo Commodity Exchange
Written By mine on Sabtu, 16 Juni 2012 | 23.25
Weak trends continue to persist in natural rubber markets despite a rebound witnessed on Monday at Tokyo Commodity Exchange. Spot prices in Kottayam and Kochi markets have fallen close to 4% this month at Rs 18750 per 100 kg, according to Rubber Board of India data.
On Tuesday morning, key TOCOM rubber futures fell 3.7% as details of the Euro Zone agreement reached over the weekend to lend Spain emerged.
The most-active Tokyo Commodity Exchange rubber contract for November delivery fell as much as 3.7 percent to 235.5 yen per kilogram. It was changing hands at 237.1 yen, down 7.4 yen, or 3 percent, per kg at 0016 GMT.
Car sales in China rose 22.6 percent in May from a year earlier, according to recent data, extending the double-digit gain made in the previous month, as new models premiered at April's Beijing autoshow started to hit showrooms, Reuters reported.
Fundamentals in Indian market continue to support rubber although slowing of GDP growth to 5.3% in Q42011-12, rise in petrol prices have caused concerns on demand for rubber from automotive sector. Natural rubber production has declined by 3 per cent to 58,000 tonnes in May 2012, compared to 59,700 tonnes in the same month last year, according to Rubber Board data. The consumption of the commodity rose by 4 per cent to 83,000 tonnes in May this year as against 80,120 tonnes in the corresponding period of last year, Rubber Board data said.
At National Multi Commodity Exchange of India (NMCE), June contract has fallen 6.6% so far this month trading at Rs 18210 per 100 kg on Tuesday morning trade while July contract has fallen 6.80% to Rs 18400 levels.
Imports of natural rubber rose by 13 per cent to 18,419 tonnes last month from 16,293 tonnes in the year—ago period, whereas exports fell by 63 per cent to 1,131 tonnes against 3,031 tonnes in the same period last year, the data said. The stock of natural rubber in the country at the end of May 2012 stood at 2.22 lakh tonnes.
In 2012—13 fiscal, India’s natural rubber production declined by 5 per cent to 1.10 lakh tonnes in the April—May period from 1.16 lakh tonnes in the same period of the 2011—12 fiscal.
Natural rubber consumption grew marginally by 1 per cent at 1.63 lakh tonnes in the April—May period of 2012—13 against 1.61 lakh tonnes in the 2011—12 financial year.
On Tuesday morning, key TOCOM rubber futures fell 3.7% as details of the Euro Zone agreement reached over the weekend to lend Spain emerged.
The most-active Tokyo Commodity Exchange rubber contract for November delivery fell as much as 3.7 percent to 235.5 yen per kilogram. It was changing hands at 237.1 yen, down 7.4 yen, or 3 percent, per kg at 0016 GMT.
Car sales in China rose 22.6 percent in May from a year earlier, according to recent data, extending the double-digit gain made in the previous month, as new models premiered at April's Beijing autoshow started to hit showrooms, Reuters reported.
Fundamentals in Indian market continue to support rubber although slowing of GDP growth to 5.3% in Q42011-12, rise in petrol prices have caused concerns on demand for rubber from automotive sector. Natural rubber production has declined by 3 per cent to 58,000 tonnes in May 2012, compared to 59,700 tonnes in the same month last year, according to Rubber Board data. The consumption of the commodity rose by 4 per cent to 83,000 tonnes in May this year as against 80,120 tonnes in the corresponding period of last year, Rubber Board data said.
At National Multi Commodity Exchange of India (NMCE), June contract has fallen 6.6% so far this month trading at Rs 18210 per 100 kg on Tuesday morning trade while July contract has fallen 6.80% to Rs 18400 levels.
Imports of natural rubber rose by 13 per cent to 18,419 tonnes last month from 16,293 tonnes in the year—ago period, whereas exports fell by 63 per cent to 1,131 tonnes against 3,031 tonnes in the same period last year, the data said. The stock of natural rubber in the country at the end of May 2012 stood at 2.22 lakh tonnes.
In 2012—13 fiscal, India’s natural rubber production declined by 5 per cent to 1.10 lakh tonnes in the April—May period from 1.16 lakh tonnes in the same period of the 2011—12 fiscal.
Natural rubber consumption grew marginally by 1 per cent at 1.63 lakh tonnes in the April—May period of 2012—13 against 1.61 lakh tonnes in the 2011—12 financial year.
