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[Geofin Comtrade] Daily report on Natural Rubber: November 3, 2015

MARKET COMMENTARY

Sentiments stayed feeble in the local natural rubber market on Monday. In the physical market, RSS4 grade rubber remained under pressure on jaded demand from the major consuming industries though limited arrivals lend lower level support. On NMCE, rubber futures edged lowerin volume-less trades.

Moves are lackluster in the major overseas market as well. On Tuesday, the trendsetting TOCOM exchange stayed closed on account of National Culture Day while SHFE rubber futures are being held in tight ranges.

[Geofin Comtrade] Daily report on Natural Rubber: November 3, 2015

MARKET NEWS

⊳Rubber inventories in the warehoused monitored by SHFE rose 1.3 per cent last week to 227249 tonnes according to the weekly data released from the exchange.

⊳Japan’s crude rubber stocks totaled 11,484 metric tons as of October 20, up 0.4% from 11,443 tons as of October 10, data from the Rubber Trade Association of Japan showed.

⊳Bridgestone Corporation announced that it successfully built passenger tires with 100 per cent of its natural rubber-containing components derived from guayule, a desert shrub that grows in arid region.

⊳Thailand’s Natural Rubber Policy Committee said the government will not provide a cash subsidy for struggling rubber famers, but will instead promote local consumption of rubber to boost price.

⊳According to the Association of Natural Rubber Producing Countries, production from the key natural rubber producing countries declined 0.9 per cent (YoY) for the first eight months of this year.

⊳Kerala government has modified some terms of subsidy scheme for rubber farmers. The government dropped Aadhaar as mandatory requirement for registration while extending the scheme to latex as well from October. Farmers will receive the difference between Rs.142 and the price of latex as fixed by the Rubber Board.

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Geofin Comtrade

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