MARKET COMMENTARY
> Natural rubber in the Indian market last week were hovering near its weakest level in about five year. Poor demand from the tyre sector, higher imports, weakness in the overseas market kept the commodity in the b ear turf. In the physical market, RSS4 was quoted near Rs.130 while on NMCE, the grade varied inside narrow ranges awaiting fresh cues for further directional moves.
> On Monday, a mixed trend is being witnessed in the overseas natural rubber market. TOCOM rubber futures inched up while AFET and SHFE rubber futures are trading in red. Reports that Thailand’s National Council fo r Peace and Order approved selling of 210000 tonnes of rubber from the state stockpiles weighed on the overall market sentiments.
MARKET NEWS
> National Council for Peace and Order approves selling 210,000mt from state stockpile s according to Post Today newspaper report.
> Vietnam will eliminate rubber export tax Oct. 2 according to Vietnam Rubber As sociation citing circular issued Aug. 18 by finance ministry.
> Indonesia to form Rubber Task Force involving govt. Officials, rubber producers and banking sector to boost prices.
>India Rubber Meet 2015 (IRM 2015) will be held in Kerala from 4 to 6 March 2015.
> Crude rubber stockpiles held at Japanese warehouses fell 4.7 percent to 17,505 metric tons on Aug. 10, according to data from the Rubber Trade Association of Japan.
> The global surp lus of natural rubber will shrink 46 percent in 2015 as demand expands and farmers reduce tapping because of decreasing prices, according to the International Rubber Study Group.
> Rubber Board Chairman Ms. Sheela Thomas has been appointed as the Secretary General of the Association of Natural Rubber Producing Countries (ANRPC).
> Thailand plans to reduce plantation area by 100,000 rai (16,000 hectares) a year fo r 7 years, according to the Office of the Rubber Replanting Aid Fund.
TECHNICAL VIEW
RUBBER Sep NMCE
A consolidation inside 13000-12700 ranges is in progress and a breakout from either the side with volume is mandatory for further directional moves. Sustained trades above 13050 with volume could see some upside towards 13200 ranges initially or more. Alternatively, inability to clear the same or slippage past 12700 will strengthen weakness.
TURNAROUND
| Resistances | LEVELS | Supports |
| 13050/13150 | 13050-12700 | 12850/12700 |
| 13280/13350 | 12650/12500 | |
| 13480/13560 | 12400/12200 |
Source: Geojit Comtrade
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