MARKET BUZZ
Benchmark TOCOM rubber futures edged up on Tuesday as investors looked for bargains, but gains were limited as the yen strengthened and worries over supply from Thailand eased. (Reuters)
Prices of rubber fell today in the key spot markets of Kerala, tracking a decline in international prices, traders said. The most traded RSS-4 grade rubber was sold at 149 rupees a kg in Kottayam and Kochi in Kerala, down by a rupee from Saturday, according to data from the Rubber Board. Demand from tyre companies was also low during the day due to availability of adequate stock, and on anticipation of a further fall in prices, traders said. (Cogencis)
The U.S. Commerce Department said on Monday it made a final finding that bus and truck tires from China were dumped at below market prices and were unfairly subsidized. (Reuters)
Thailand will lose around 7.6 percent of its rubber output in 2017 after flooding hit the main growing region, an official of the Rubber Authority of Thailand said. (Reuters)
Thailand will sell 98,000 tonnes of rubber from state stockpiles in the first state auction in 2017, the country’s rubber authority said on Thursday. The sale is worth over 6.64 billion baht ($187.57 million), said Titus Suksaard, governor of the Rubber Authority of Thailand.(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)
[embeddoc url=”https://www.dropbox.com/s/mrdv2mbd5vsolca/Rubber_Report%2C_24_Jan_2017.pdf?dl=1″ viewer=”google” ]
Geofin Comtrade
