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[Geojit Comtrade] Daily report on Natural Rubber: September 30, 2014


 ⊳ Sentiments seemed to be muddled in the local natural rubber market. On Monday, RSS4 in the physical market steadied near Rs.123 a kg, while on NMCE, it was seen declining. The most active November rubber futures on NMCE dropped nearly 1.5 per cent. The underlying sentiments stayed feeble and decline in natural rubber prices in the major overseas market added further pressure on prices to move south. However, limited supplies to the market probably restricted steep declines as witnessed in the overseas market.

⊳ On Tuesday, natural rubber is seen reversing previous day’s losses in the international market. TOCOM and SHFE rubber futures are seen inching up. Fall in natural rubber exports from Thailand and data indicating strong export growth in China improved the mood. However, a week long holiday in China from tomorrow is likely to weigh on the sentiments.


 ⊳ Rubber exports from Thailand declined 1.5 per cent to 259674 tonnes in August on YoY basis.

⊳ Indonesian Rubber Association is seeking to put a floor under prices at $1.5 a kg and has written and sent circulars to its members not to sell rubber is prices plunges below the same.

⊳ India’s Commerce Minister promises to address the problems faced by the rubber growers including imports of natural rubber and added that National Policy on Rubber will be formulated soon.

⊳ Rubber inventories in the warehouses monitored by SHFE declined by 2192 tonnes to 162649 tonnes last week.

⊳Vietnam rubber exports in August stood at 114000 tonnes and 13300 tonnes is anticipated to be exported in September according to nation’s Ministry of Agriculture and Rural Development.

⊳ The Thai government has postponed the sale of its remaining 100,000 tonnes of rubber stocks to avoid further depressing prices according to a senior Agriculture Ministry official.

⊳ International Rubber Consortium sees natural rubber production declining in 2014 by 2.3 per cent to 11.8 million tonnes while stockpiles are seen around 2.3-2.5 million tonnes.

⊳ Inventories in Qingdao, China’s main rubber-trading hub, fell to 192,200 mt yday from 217,400 mt on Aug. 29, according to Qingdao International Rubber Exchange Market.

[Geojit Comtrade] Daily report on Natural Rubber: September 30, 2014



 Range bound moves inside 11600-12300 in progress and requires a breakout from either the sides for further directional moves.


Resistances LEVELS  Supports
12060-12100 12300-11900-11600  11900-11820
12200/12300 11650/11580
12460/12550 11450/11250


Source: Geojit Comtrade

Download this report (full content – PDF file) here

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