MARKET BUZZ
Benchmark TOCOM rubber futures climbed nearly 1 percent on Wednesday after Shanghai contracts climbed overnight, but gains were curbed as the dollar fell to a four-week low against the yen. (Reuters)
Futures contracts of natural rubber on the National Multi- Commodity Exchange of India declined 1% on Tuesday, taking cues from benchmark contracts on the Tokyo Commodity Exchange, analysts said. The most active February contract on the NMCE settled at 15,300 rupees per 100 kg, down 1.0% from the previous close. After hitting a nearly four-year high of 308.6 yen (185.48 rupees) a kg on the TOCOM earlier today, rubber prices on the Japanese bourse fell as investors booked profits. (Cogencis)
Crude rubber inventories at Japanese ports stood at 5,471 tonnes as of Dec. 31, up 4.2 percent from the last inventory date, data from the Rubber Trade Association of Japan showed. (Reuters)
Ivory Coast exported 471,904 tonnes of natural rubber from January through November 2016, up more than 19 percent from the same period in the previous year, provisional port data showed. (Reuters)
Global natural rubber output is likely to fall in the first quarter of 2017 as floods have disrupted tapping in top producer Thailand, the Association of Natural Rubber Producing Countries (ANRPC) said. Output for the period is expected to fall 0.8 percent from a year-ago level to 2.44 million tonnes. However, annual production from the ANRPC members, which together account for about 92 percent of global output, could rise 4 percent to 11.2 million tonnes in 2017, after stagnating over the past three years, the association said in a statement. (Reuters)
Thailand will lose around 10 percent of its rubber output in the 2016-2017 crop year after unseasonal flooding affected the country’s main growing region, a senior industry official said on Thursday. (Reuters)
[embeddoc url=”https://www.dropbox.com/s/jzw1eh8imv34w7x/Rubber_Report%2C_18_Jan_2017.pdf?dl=1″ viewer=”google” ]
Geofin Comtrade
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