Informist, Monday, Jan 24, 2022
By Rahul Dhuri
MUMBAI – The prices of natural rubber rose in the key markets of Kerala due to renewed demand from domestic stockists after the recent fall in prices. However, sluggish demand from tyre makers and weakness in the global market capped the rise in prices, traders said.
* Automobile sales continued to slide in December, with sales of passenger vehicles falling over 13% on year and sales of two-wheelers declining nearly 11%, data from the Society of Indian Automobile Manufacturers showed.
* Futures contracts of natural rubber on the Tokyo Commodity Exchange ended in the red due to sluggish demand from bulk buyers and threat of military action between Ukraine and Russia, analysts said.
* Geopolitical tensions between Ukraine and Russia are expected to weigh on financial markets as the two nations move closer to a military stand-off.
* However, higher crude oil prices may cap the downside in rubber prices later in the day. Natural rubber prices take cues from crude oil, as the latter is used to manufacture synthetic rubber.
* Following are the highlights of today’s trade:
–The widely-traded RSS-4 variety was sold at 160-161 rupees per kg, up 1-2 rupees from the previous close.
–The most-active June contract on the TOCOM ended at 236.1 yen (154.74 rupees), down 2.1 yen from the previous close.
Edited by Maheswaran Parameswaran
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