MARKET BUZZ
Benchmark TOCOM rubber futures were set on Friday for their biggest gain since 2009, up more than 60 percent so far in 2016 with a rally in crude oil prices and fund buying underpinning the market. (Reuters)
Futures of rubber on the National Multi-Commodity Exchange rose over 1% on Thursday tracking the bellwether Tokyo Commodity Exchange, analysts said. The most-active January rubber contract on NMCE ended at 13,865 rupees per 100 kg, up 1.3% from the previous close. Domestic spot markets too were tad up during the day, following the rise in global markets. The widely-traded RSS-4 grade rubber was priced at 136 rupees per kg, up 0.50 rupees from Wednesday, in both Kochi and Kottayam, Rubber Board data showed. (Cogencis)
China imported 560,000 tons of natural and synthetic rubber in November, 2016, a rise of 42.8 per cent from the same period of 2015, according to data from the General Administration of Customs. During the first 11 months of this year, aggregate import volume of natural and synthetic rubber was 5.08 million tons, representing a year on year gain of 23 per cent. (Reuters)
The National Multi-Commodity Exchange of India has added the Central Warehousing Corporation’s warehouse at Trivandrum as an additional delivery centre for rubber and black pepper, the exchange said in a notice.(Cogencis)
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)
[embeddoc url=”https://www.dropbox.com/s/c8j9awjatsgd35u/Rubber_Report%2C_30_Dec_2016.pdf?dl=1″ viewer=”google” ]
Geofin Comtrade
