MARKET BUZZ
Benchmark TOCOM rubber futures fell to a two-week low on Monday, weighed down by a firmer yen against the U.S. dollar and softer Shanghai futures last Friday, but trade was thin ahead of the New Year holiday. Japanese markets were shut on Friday due to a national holiday. (Reuters)
China Jan-Nov Natural Rubber Imports 2.2M Tons, Down 12% on Year. (Cogencis)
Crude rubber inventories at Japanese ports stood at 5,559 tonnes as of Dec. 10, down 6.9 percent from the last inventory date, data from the Rubber Trade Association of Japan showed.(Reuters)
India’s natural rubber consumption rose 13.0% on year to 88,000 tn in November, from 77,880 tn, according to data released by the Rubber Board today. The country’s imports of natural rubber rose sharply from a year ago despite a rise in production. India’s natural rubber imports were 43,123 tnduring November, up 22.4% on year. (Cogencis)
India’s natural rubber production in November was at 63,000 tn, up 18.9% from a year ago, according to a release by the Rubber Board. The total output in Apr-Nov was at 428,000 tn, up 12% from 382,000 tn a year ago, the release said. If the current trend in production continues, rubber output in the current year (Apr-Mar) is likely to reach 654,000 tn, it said. (Cogencis)
Vietnam, the world’s third-largest rubber producer, may join in with other major producers to reduce its output in a bid to push up prices.(The Jakarta Post)
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Geofin Comtrade
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