MARKET COMMENTARY
Sentiments have probably turned positive in the natural rubber market. In the major overseas market on Thursday, natural rubber is seen stretching gains. TOCOM as well as SHFE rubber futures advanced over one per cent bolstered by moves in other industrial commodities. In the local market, meanwhile, quotes for RSS4 in the physical market rose to its highest in about one-and-a-half month on Wednesday. Amidst positive cues from the major overseas market, limited arrivals and improvement in local demand lifted prices up. NMCE rubber futures rose as well.
MARKET NEWS
Crude rubber inventories at Japanese ports stood at 14,553 tonnes as of Feb. 20, up 4.8 percent from the last inventory date, data from the Rubber Trade Association of Japan showed.
China imported 4.72 million tons of natural and syndicated rubber in 2015, a year-over-year increase of 15.3 per cent. The country imported natural and syndicated rubber worth 48.6 billion yuan (approx US$7.44 billion) during the same period, down 11.3 per cent from a year earlier. The country imported 590,000 tons of natural and syndicated rubber in December of 2015, up 18 per cent month on month. The country imported natural and syndicated rubber worth 5.25 billion yuan (approx US$803 million) during the same period, up 12.8 per cent compared to the previous month.
Indian Rubber Institute would conduct an international rubber conference, Rubbercon, in Chennai from March 1 to 3.
Thailand’s military-led government on Tuesday approved about 87 billion baht ($2.43 billion) in loans to help farmers who have been hit hard by falling commodity prices and widespread drought.
According to the Rubber Board, natural rubber imports in the country Jumped 21 per cent in January to 35174 tonnes compared to a year ago while production was 56000 tonnes, down 3.4 percent.
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Geofin Comtrade
