MARKET COMMENTARY
A rebound is being witnessed in the major overseas natural rubber market. On Thursday, TOCOM as well as SHFE rubber futures stretched gains. Gains in crude oil and other industrial commodities after the recent slump may probably have lifted the sentiments. Bargain buying may too have emerged from the lower levels. However, the underlying broad sentiments stayed bearish owing to weak fundamentals.
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 RusdanDalimunthe, 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
[embeddoc url=”https://drive.google.com/file/d/0BzrsaGiMYhEkOF9Ib09yTFBQVjA/preview” viewer=”drive”]Geofin Comtrade
