MARKET BUZZ
Benchmark TOCOM rubber futures snapped a 3-day rally on Friday, falling from a near 4-year high hit the previous day as investors took profits after the yen strengthened. (Reuters)
Natural rubber prices in India jumped to a two-and-a-half-year high on Thursday on limited supplies and tracking gains in overseas markets due to supply disruptions in top producer Thailand, three dealers said. The spot price of the most-traded RSS-4 rubber (ribbed, smoked sheet) at the Kottayam market in the top producing southern state of Kerala rose by 200 rupees to 14,500 rupees ($213.24) per 100 kg, the highest since June 2014. (Reuters)
Thailand will lose around 10 percent of its rubber output in the 2016-2017 crop year after unseasonal flooding affected the country’s main growing region, a senior industry official said on Thursday. (Reuters)
Record rainfall in Thailand, in south-east Asia, has caused flooding and devastation. The rain isn’t expected to stop for at least two more days, according to Thailand’s weather department, who warn more flash floods may be on the way. (BBC)
China imported 560,000 tons of natural and synthetic rubber in November, 2016, a rise of 42.8 per cent from the same period of 2015, according to data from the General Administration of Customs. During the first 11 months of this year, aggregate import volume of natural and synthetic rubber was 5.08 million tons, representing a year on year gain of 23 per cent. (Reuters)
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Geofin Comtrade
