MARKET COMMENTARY
Natural rubber is seen pausing after the recent rally. On Tuesday, TOCOM rubber futures declined after hitting six-and-half month high last day. SHFE rubber futures dropped as well. Fall in other industrial commodities and crude oil along with lacklusture economic indicators from China may have probably dampened the sentiments.
In the local market on Monday, while NMCE stayed closed on account of Mahashivrathri, quotes for RSS4 in the physical market shot-up to its strongest level in more than three months. Limited arrivals coupled with upbeat moves in the major international market may have bolstered prices in the local market.
MARKET NEWS
India Rubber Meet-2016 scheduled for March 10-11 in Goa.
Crude rubber inventories at Japanese ports stood at 14,553 tonnes as of Feb. 20, up 4.8 percent from the last inventory date, data from the Rubber Trade Association of Japan showed.
China imported 4.72 million tons of natural and syndicated rubber in 2015, a year-over-year increase of 15.3 per cent. The country imported natural and syndicated rubber worth 48.6 billion yuan (approx US$7.44 billion) during the same period, down 11.3 per cent from a year earlier. The country imported 590,000 tons of natural and syndicated rubber in December of 2015, up 18 per cent month on month. The country imported natural and syndicated rubber worth 5.25 billion yuan (approx US$803 million) during the same period, up 12.8 per cent compared to the previous month.
Thailand’s military-led government on Tuesday approved about 87 billion baht ($2.43 billion) in loans to help farmers who have been hit hard by falling commodity prices and widespread drought.
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Geofin Comtrade
