-2.8 C
New York
Monday, January 24, 2022

[Geofin Comtrade] Daily report on Natural Rubber: November 25, 2016

MARKET COMMENTARY

Sentiments seem to be mixed in the major overseas natural rubber market as the week’s session culminates. On Friday, TOCOM rubber futures ticked up while SHFE rubber futures took a breather after the recent rally. TOCOM rubber futures tested its highest level in around one and a half years bolstered by a weaker yen. The Japanese yen weakened against the US dollar, hitting its lowest level in eight months.

In the Indian market, natural rubber traded rather steady. Quotes for RSS4 grade rubber lingered around Rs.130 a kg in the major Kottayam market. Upbeat cues from the major overseas market continued to lend firm support to the commodity even as subdued demand weighed on.

MARKET NEWS

The Rubber Board informed that production of natural rubber (NR) in the country showed an increase during the period from April 2016 to October 2016. It has recorded an increase of 10.94 per cent as compared to the production in the same period during the last year. Production during the month of October 2016 alone shows an increase of 15.4 per cent as compared to last year. If this trend continues, production of NR during the fiscal will reach the anticipated 6.54 lakh tonne.

The Shanghai Futures Exchange said on Tuesday it will raise margins and trading limits on futures contracts including copper, aluminium, zinc, lead, nickel, tin, rebar, hot rolled coil, rubber and bitumen effective from Nov. 24. It will raise margin requirements to 9 percent from 8 percent and the trading limit to 7 percent from 6 percent, the exchange said in a notice posted on its website.

Based on figures covering the period up to October 2016, total supply of natural rubber from ANRPC member countries is expected to post a near-zero growth (0.4%) during 2016.

[embeddoc url=”https://www.dropbox.com/s/r23qm21zuk05fwk/Rubber_Report%2C_25_Nov_2016.pdf?dl=1″ viewer=”google” ]

Geofin Comtrade

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,079FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles