MARKET BUZZ
Benchmark TOCOM rubber futures on Wednesday rose to their highest in nearly 4 weeks, extending gains into a second session as heavy flooding hit a major rubber-producing area in Thailand. (Reuters)
Prices of natural rubber rose in the key wholesale markets of Kerala–Kottayam and Kochi—on Tuesday, tracking gains in the international prices of rubber, traders said. Improved demand also supported prices in the domestic markets, they said. RSS-4 grade rubber, the most traded variety, was at 141 rupees per kg in both Kochi and Kottayam, up 1 rupee each from Monday, according to data from Rubber Board. (Cogencis)
Record rainfall in Thailand, in south-east Asia, has caused flooding and devastation. The rain isn’t expected to stop for at least two more days, according to Thailand’s weather department, who warn more flash floods may be on the way. (BBC)
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)
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 tn during November, up 22.4% on year. (Cogencis)
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Geofin Comtrade
