MARKET COMMENTARY
Sentiments stayed feeble in natural rubber in the local as well as international market. TOCOM rubber futures slumped three per cent as the exchange reopened today after holiday, tracking losses in SHFE.
In the Indian market, natural rubber stayed on the bear turf, hitting a fresh six year low on Monday. Low demand and bearishness in the overseas market weighed heavily on prices despite fall in production.
MARKET NEWS
China’s natural rubber imports in October rose 18.8 percent from a year earlier to 212,190 tonnes, while synthetic rubber imports gained 63.3 percent to 193,999 tonnes, official customs figures showed.
According to the Association of Natural Rubber Producing Countries, natural rubber output among its member countries could fall for the second consecutive year in 2015 as farmers curtail tapping in this peak production period owing to low prices.
Rubber inventories in the warehoused monitored by SHFE rose 0.9 per cent to 230759 tonnes according to weekly data from the exchange.
India government imposed anti-dumping duty on import of certain grades of carbon black from China and Russia for a period of five years.
Indonesia, Malaysia, Thailand and Vietnam have agreed to harmonise their rubber standards with effect from Jan 1 according to Rusdan Dalimunthe, executive director at the Indonesia Rubber Association or GAPKINDO.
Crude rubber inventories at Japanese ports stood at 11,070 tonnes as of Oct. 31, down 3.6 percent from the last inventory date, data from the Rubber Trade Association of Japan showed
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