Spot rubber rules firm
Kottayam, Sept. 29 Spot rubber finished firm on Tuesday. The prices improved as sellers stayed back letting the market to recover in tune with the domestic sentiments after the long holidays. Sheet rubber moved up to Rs 108 from Rs 106 a kg on covering purchases. There were no fresh enquiries from the tyre sector. Meanwhile latex 60 per cent declined sharply on low demand. The volumes were dull.
Futures steady
The October futures closed at Rs 107.31 (107.24), November at Rs 108.25 (108.39), December at Rs 109.85 (109.69) and January at Rs 111.50 (111.36) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 improved at its October futures to ¥187.9 (¥186) (Rs 100.40), November to ¥190.2 (¥187.5), December to ¥192.1 (¥189.4), January to ¥192.7 (¥190), February to ¥194.8 (¥192.1) and March to ¥197.2 (¥194.4) during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/09/30/stories/2009093050791600.htm
Labour shortage cripples plantation sector
KOCHI: The severe shortage of labour that has come to characterise the agriculture sector in general is now threatening to paralyse the plantation economy of the south. The disappearing labour force, despite the trend of rising wages, is prompting the commodity economies to look for alternative solutions in labour substituting machinery and technology.
In central Kerala, the heartland of rubber cultivation, the growers are facing a serious shortage of tappers. Despite the fact that the wages have gone up from 20 paise per tree per day to Re 1 per tree per day in the past few years there are not enough tappers in the sector. (ET)
http://economictimes.indiatimes.com/markets/commodities/Labour-shortage-cripples-plantation-sector/articleshow/5070085.cms
Wednesday, September 30, 2009
rubber news-Rubber Gains for First Day in Five as Yen Retreats, Oil Climbs
Rubber Gains for First Day in Five as Yen Retreats, Oil Climbs
By Jae Hur and Aya Takada
Sept. 29 (Bloomberg) -- Rubber gained for the first time in five days after the Japanese currency fell from an eight-month high, raising the appeal of yen-denominated contracts.
Futures in Tokyo also climbed as oil advanced, boosting the cost of making rival synthetic products used in car tires. Crude traded near $67 a barrel in New York on optimism about an economic recovery in the U.S., the world’s biggest energy consumer, after equities increased by the most in five weeks. Asian stocks rose today.
“The decline in the previous four days has prompted bargain hunting,” Hisaaki Tasaka, analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone. The yen’s weakness and a rally in oil prices also encouraged sentiment for rubber futures, he said.
March-delivery rubber gained as much as 2.2 percent to 198.6 yen a kilogram ($2,208 a metric ton) before closing at 197.2 yen on the Tokyo Commodity Exchange.
The yen dropped as low as 90.23 per dollar before trading at 90.05 as of 3:42 p.m. in Tokyo as Japan’s Finance MinisterHirohisa Fujii said the government may take action in markets after the currency’s gain to an eight-month high imperiled earnings of export-dependent companies.
The Japanese currency reached 88.24 yesterday, the strongest level since Jan. 23, amid speculation Japan’s new government will allow the currency to appreciate.
Crude oil for November delivery traded at $66.89 a barrel, up 5 cents, in electronic trading on the New York Mercantile Exchange at 3:42 p.m. Tokyo time. Yesterday, the contract rose 1.2 percent.
Rubber has gained 45 percent this year as surging car sales in China spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers.
January-delivery rubber on the Shanghai Futures Exchange rose 2.5 percent to close at 16,890 yuan ($2,474) a ton.
By Jae Hur and Aya Takada
Sept. 29 (Bloomberg) -- Rubber gained for the first time in five days after the Japanese currency fell from an eight-month high, raising the appeal of yen-denominated contracts.
Futures in Tokyo also climbed as oil advanced, boosting the cost of making rival synthetic products used in car tires. Crude traded near $67 a barrel in New York on optimism about an economic recovery in the U.S., the world’s biggest energy consumer, after equities increased by the most in five weeks. Asian stocks rose today.
“The decline in the previous four days has prompted bargain hunting,” Hisaaki Tasaka, analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone. The yen’s weakness and a rally in oil prices also encouraged sentiment for rubber futures, he said.
March-delivery rubber gained as much as 2.2 percent to 198.6 yen a kilogram ($2,208 a metric ton) before closing at 197.2 yen on the Tokyo Commodity Exchange.
The yen dropped as low as 90.23 per dollar before trading at 90.05 as of 3:42 p.m. in Tokyo as Japan’s Finance MinisterHirohisa Fujii said the government may take action in markets after the currency’s gain to an eight-month high imperiled earnings of export-dependent companies.
The Japanese currency reached 88.24 yesterday, the strongest level since Jan. 23, amid speculation Japan’s new government will allow the currency to appreciate.
Crude oil for November delivery traded at $66.89 a barrel, up 5 cents, in electronic trading on the New York Mercantile Exchange at 3:42 p.m. Tokyo time. Yesterday, the contract rose 1.2 percent.
Rubber has gained 45 percent this year as surging car sales in China spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers.
January-delivery rubber on the Shanghai Futures Exchange rose 2.5 percent to close at 16,890 yuan ($2,474) a ton.
Monday, September 28, 2009
रबड़ समाचार
Rubber Declines for Fourth Day as Stronger Yen Reduces Appeal
Sept. 28 (Bloomberg) -- Rubber declined for a fourth day after the Japanese currency climbed to the highest level in eight months against the dollar, reducing the appeal of yen- denominated contracts.
Futures in Tokyo fell as much as 1.9 percent to 193.8 yen a kilogram ($2,168 per metric ton). Japan’s currency rose on speculation Japan won’t intervene to stem gains in the currency and exporters repatriated profits before the fiscal first half ends this week.
“A stronger yen is the largest drag on the price of futures,” Kazuhiko Saito, chief analyst at Tokyo-based commodity broker Fumitomi Co., said today by phone. “Investors are concerned the yen may appreciate further as the Japanese government looks reluctant to intervene.”
March-delivery rubber closed at 194.4 yen a kilogram on the Tokyo Commodity Exchange, down from the previous settlement of 197.6 yen. It has become the most-active contract after being listed on Sept. 25.
The yen climbed to 89.34 per dollar as of 3:34 p.m. in Tokyo from 89.64 in New York on Sept. 25. Earlier, the Japanese currency reached 88.24, the strongest level since Jan. 23.
Japan’s currency gained on prospects the nation’s exporters are taking advantage of an April 1 rule change that waives taxes on repatriated profits. Under previous laws, companies had to pay a combined 40 percent tax on overseas earnings. The first half of Japan’s fiscal year ends Sept. 30.
Strong Yen
Since coming to office this month, Finance Minister Hirohisa Fujii has said he doesn’t support a “weak yen,” fueling speculation the government won’t resort to intervention to curb the currency’s 17 percent appreciation in the past year. A strong yen can hurt prices as rubber trades globally in dollars.
“Stable movements in currencies are desirable,” Fujii told reporters in Tokyo today. Fujii said he shouldn’t comment on currency intervention and that he was misunderstood as supporting a stronger yen. Central banks intervene in foreign- exchange markets by selling and buying currencies.
Rubber also declined as rising stockpiles in China stoked concern that demand in the world’s largest consumer may slow, Saito said.
Rubber inventories expanded by 6,584 tons to 98,253 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the Shanghai Futures Exchange said on Sept. 25. The volume was the highest level since November 2007.
Natural rubber imports by China rose 2.4 percent from a year earlier to 1.15 million tons in the eight months ended Aug. 31, data from the Beijing-based Customs General Administration showed on Sept. 22. The rate of increase slowed from 3.2 percent in the first seven months of this year.
Rubber has gained 43 percent this year as surging car sales in China spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers.
January-delivery rubber on the Shanghai Futures Exchange lost 1.2 percent to close at 16,690 yuan ($2,445) a ton.
Sept. 28 (Bloomberg) -- Rubber declined for a fourth day after the Japanese currency climbed to the highest level in eight months against the dollar, reducing the appeal of yen- denominated contracts.
Futures in Tokyo fell as much as 1.9 percent to 193.8 yen a kilogram ($2,168 per metric ton). Japan’s currency rose on speculation Japan won’t intervene to stem gains in the currency and exporters repatriated profits before the fiscal first half ends this week.
“A stronger yen is the largest drag on the price of futures,” Kazuhiko Saito, chief analyst at Tokyo-based commodity broker Fumitomi Co., said today by phone. “Investors are concerned the yen may appreciate further as the Japanese government looks reluctant to intervene.”
March-delivery rubber closed at 194.4 yen a kilogram on the Tokyo Commodity Exchange, down from the previous settlement of 197.6 yen. It has become the most-active contract after being listed on Sept. 25.
The yen climbed to 89.34 per dollar as of 3:34 p.m. in Tokyo from 89.64 in New York on Sept. 25. Earlier, the Japanese currency reached 88.24, the strongest level since Jan. 23.
Japan’s currency gained on prospects the nation’s exporters are taking advantage of an April 1 rule change that waives taxes on repatriated profits. Under previous laws, companies had to pay a combined 40 percent tax on overseas earnings. The first half of Japan’s fiscal year ends Sept. 30.
Strong Yen
Since coming to office this month, Finance Minister Hirohisa Fujii has said he doesn’t support a “weak yen,” fueling speculation the government won’t resort to intervention to curb the currency’s 17 percent appreciation in the past year. A strong yen can hurt prices as rubber trades globally in dollars.
“Stable movements in currencies are desirable,” Fujii told reporters in Tokyo today. Fujii said he shouldn’t comment on currency intervention and that he was misunderstood as supporting a stronger yen. Central banks intervene in foreign- exchange markets by selling and buying currencies.
Rubber also declined as rising stockpiles in China stoked concern that demand in the world’s largest consumer may slow, Saito said.
Rubber inventories expanded by 6,584 tons to 98,253 tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the Shanghai Futures Exchange said on Sept. 25. The volume was the highest level since November 2007.
Natural rubber imports by China rose 2.4 percent from a year earlier to 1.15 million tons in the eight months ended Aug. 31, data from the Beijing-based Customs General Administration showed on Sept. 22. The rate of increase slowed from 3.2 percent in the first seven months of this year.
Rubber has gained 43 percent this year as surging car sales in China spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers.
January-delivery rubber on the Shanghai Futures Exchange lost 1.2 percent to close at 16,690 yuan ($2,445) a ton.
स्ट्रोक- दिल का दर्द
Subject: STROKE
Please have a look.........This 5 min may save a life and lots of tears..... You could save a life. STROKE: Remember The 1st Three Letters... S.T.R .. My friend sent this to me and encouraged me to post it and spread the word. I agree. If everyone can remember something this simple, we could save some folks.
STROKE IDENTIFICATION: During a party, a friend stumbled and took a little fall - she assured everyone that she was fine and just tripped over a brick because of her new shoes. (they offered to call ambulance) They got her cleaned up and got her a new plate of food - while she appeared a bit shaken up, Ingrid went about enjoying herself the rest of the evening. Ingrid's husband called later telling everyone that his wife had been taken to the hospital - (at 6:00pm , Ingrid passed away.) She had suffered a stroke at the party . Had they known how to identify the signs of a stroke, perhaps Ingrid would be with us today.
Some don't die. They end up in a helpless, hopeless condition instead. It only takes a minute to read this... STROKE IDENTIFICATION:
A neurologist says that if he can get to a stroke victim within 3 hours he can totally reverse the effects of a stroke...totally. He said the trick was getting a stroke recognized, diagnosed, and then getting the patient medically cared for within 3 hours, which is tough. RECOGNIZING A STROKE Remember the '3' steps, STR
. Read and Learn! Sometimes symptoms of a stroke are difficult to identify. Unfortunately, the lack of awareness spells disaster. The stroke victim may suffer severe brain damage when people nearby fail to recognize the symptoms of a stroke. Now doctors say a bystander can recognize a stroke by asking three simple questions : S * Ask the individual to SMILE .. T * = TALK. Ask the person to SPEAK A SIMPLE SENTENCE (Coherently) (eg 'It is sunny out today').R * Ask him or her to RAISE BOTH ARMS . If he or she has trouble with ANY ONE of these tasks, call the ambulance and describe the symptoms to the dispatcher. NOTE : Another 'sign' of a stroke is 1. Ask the person to 'stick' out their tongue.. 2. If the tongue is 'crooked', if it goes to one side or the other that is also an indication of a stroke.
A prominent cardiologist says if everyone who gets this e-mail sends it to 10 people; you can bet that at least one life will be saved.
and it could be your own.. PASS THIS ONE.
Please have a look.........This 5 min may save a life and lots of tears..... You could save a life. STROKE: Remember The 1st Three Letters... S.T.R .. My friend sent this to me and encouraged me to post it and spread the word. I agree. If everyone can remember something this simple, we could save some folks.
STROKE IDENTIFICATION: During a party, a friend stumbled and took a little fall - she assured everyone that she was fine and just tripped over a brick because of her new shoes. (they offered to call ambulance) They got her cleaned up and got her a new plate of food - while she appeared a bit shaken up, Ingrid went about enjoying herself the rest of the evening. Ingrid's husband called later telling everyone that his wife had been taken to the hospital - (at 6:00pm , Ingrid passed away.) She had suffered a stroke at the party . Had they known how to identify the signs of a stroke, perhaps Ingrid would be with us today.
Some don't die. They end up in a helpless, hopeless condition instead. It only takes a minute to read this... STROKE IDENTIFICATION:
A neurologist says that if he can get to a stroke victim within 3 hours he can totally reverse the effects of a stroke...totally. He said the trick was getting a stroke recognized, diagnosed, and then getting the patient medically cared for within 3 hours, which is tough. RECOGNIZING A STROKE Remember the '3' steps, STR
. Read and Learn! Sometimes symptoms of a stroke are difficult to identify. Unfortunately, the lack of awareness spells disaster. The stroke victim may suffer severe brain damage when people nearby fail to recognize the symptoms of a stroke. Now doctors say a bystander can recognize a stroke by asking three simple questions : S * Ask the individual to SMILE .. T * = TALK. Ask the person to SPEAK A SIMPLE SENTENCE (Coherently) (eg 'It is sunny out today').R * Ask him or her to RAISE BOTH ARMS . If he or she has trouble with ANY ONE of these tasks, call the ambulance and describe the symptoms to the dispatcher. NOTE : Another 'sign' of a stroke is 1. Ask the person to 'stick' out their tongue.. 2. If the tongue is 'crooked', if it goes to one side or the other that is also an indication of a stroke.
A prominent cardiologist says if everyone who gets this e-mail sends it to 10 people; you can bet that at least one life will be saved.
and it could be your own.. PASS THIS ONE.
Friday, September 25, 2009
रबड़ समाचार 25.09.09
Spot rubber rules steady
Kottayam: Physical rubber prices continued to rule unchanged on Wednesday. “The market is visibly inactive and we expect it to become live once the trendsetting Tokyo Commodity Exchange reopens after the long holidays on Thursday”, an observer said.
Sheet rubber finished flat at Rs 106.50 a kg consecutively for the fourth day amidst narrow volumes. Meanwhile, latex 60 per cent declined on low demand. The sentiments were also affected by the weak closing in domestic futures and there were no fresh quotes from major consuming industries.
Futures decline
RSS 4 declined at its October futures to Rs 105.61 (108.69), November to Rs 106.60 (109.76), December to Rs 107.80 (111.10) and January to Rs 109.35 (112.71) a kg on National Multi Commodity Exchange (NMCE). The Tokyo Commodity Exchange (TOCOM) remained closed owing to ‘Autumnal Equinox Day’. RSS 3 slipped to Rs 105.75 (105.78) a kg on Singapore Commodity Exchange (SICOM). Its spot closed weak at Rs 105.60 (105.87) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/09/24/stories/2009092452031600.htm
Kottayam: Physical rubber prices continued to rule unchanged on Wednesday. “The market is visibly inactive and we expect it to become live once the trendsetting Tokyo Commodity Exchange reopens after the long holidays on Thursday”, an observer said.
Sheet rubber finished flat at Rs 106.50 a kg consecutively for the fourth day amidst narrow volumes. Meanwhile, latex 60 per cent declined on low demand. The sentiments were also affected by the weak closing in domestic futures and there were no fresh quotes from major consuming industries.
Futures decline
RSS 4 declined at its October futures to Rs 105.61 (108.69), November to Rs 106.60 (109.76), December to Rs 107.80 (111.10) and January to Rs 109.35 (112.71) a kg on National Multi Commodity Exchange (NMCE). The Tokyo Commodity Exchange (TOCOM) remained closed owing to ‘Autumnal Equinox Day’. RSS 3 slipped to Rs 105.75 (105.78) a kg on Singapore Commodity Exchange (SICOM). Its spot closed weak at Rs 105.60 (105.87) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/09/24/stories/2009092452031600.htm
रबड़ समाचार 25.09.09
Experts split over rubber tapping styles
THIRUVANANTHAPURAM: For well over a century since the Amazonian tribes have been known to extract latex out of rubber trees (Hevea brasiliensis), rubber tapping has followed a common style — the inclined downward tapping method. That traditional thinking which had an unquestioned run for decades is now being challenged with the proposition of inclined upward tapping (IUT) which promises considerably higher output from each tree.
If it indeed proves true, natural rubber output can see a dramatic rise, with significant implications for planters, tappers and the myriad range of rubber-based industries from tyres to elastic bands and Hawaii chappals to medical gloves. The debate over the tapping styles is a heated one, though, pitting the Rubber Board which supports the traditional style, against the IUT proponents led by L Thankamma, a mycologist. (ET)
http://economictimes.indiatimes.com/markets/commodities/Experts-split-over-rubber-tapping-styles/articleshow/5048735.cms
Rubber, cashew in Asean trade pact negative list, says Scindia
Chennai: There are adequate protective measures to safeguard Indian farmers and the labour-intensive industries in the recently-signed Free Trade Agreement with the Association of Southeast Asian Nations (ASEAN), said Mr Jyotiraditya Scindia, Union Minister of State for Commerce and Industry.
Speaking to journalists of The Hindu group of publications, Mr Scindia said the concerns raised by some, especially farmers in Kerala, were valid. However, if one read the fineprint, he would know that the farmers’ interests have been protected.
To illustrate this he said 489 items have been taken off the list of tariff concession while 590 items have been taken off the list of tariff elimination. These items are predominantly in the agricultural sector, marine sector and other labour-intensive industries such as handloom and handicrafts. Commodities such as cashew and rubber have been put on the negative list. “We are looking at rationalising tariff on coffee and tea to 45 per cent, which still high, from 100 per cent,” he said. (BL)
http://www.thehindubusinessline.com/2009/09/24/stories/2009092452021600.htm
THIRUVANANTHAPURAM: For well over a century since the Amazonian tribes have been known to extract latex out of rubber trees (Hevea brasiliensis), rubber tapping has followed a common style — the inclined downward tapping method. That traditional thinking which had an unquestioned run for decades is now being challenged with the proposition of inclined upward tapping (IUT) which promises considerably higher output from each tree.
If it indeed proves true, natural rubber output can see a dramatic rise, with significant implications for planters, tappers and the myriad range of rubber-based industries from tyres to elastic bands and Hawaii chappals to medical gloves. The debate over the tapping styles is a heated one, though, pitting the Rubber Board which supports the traditional style, against the IUT proponents led by L Thankamma, a mycologist. (ET)
http://economictimes.indiatimes.com/markets/commodities/Experts-split-over-rubber-tapping-styles/articleshow/5048735.cms
Rubber, cashew in Asean trade pact negative list, says Scindia
Chennai: There are adequate protective measures to safeguard Indian farmers and the labour-intensive industries in the recently-signed Free Trade Agreement with the Association of Southeast Asian Nations (ASEAN), said Mr Jyotiraditya Scindia, Union Minister of State for Commerce and Industry.
Speaking to journalists of The Hindu group of publications, Mr Scindia said the concerns raised by some, especially farmers in Kerala, were valid. However, if one read the fineprint, he would know that the farmers’ interests have been protected.
To illustrate this he said 489 items have been taken off the list of tariff concession while 590 items have been taken off the list of tariff elimination. These items are predominantly in the agricultural sector, marine sector and other labour-intensive industries such as handloom and handicrafts. Commodities such as cashew and rubber have been put on the negative list. “We are looking at rationalising tariff on coffee and tea to 45 per cent, which still high, from 100 per cent,” he said. (BL)
http://www.thehindubusinessline.com/2009/09/24/stories/2009092452021600.htm
Monday, September 21, 2009
Tight supply to push up rubber prices
Malaysian rubber prices are expected to rise marginally next week on the back of a short supply with rain in major producing countries, dealers said.However, the gains would be capped as most traders would be reluctant to take heavy position due to the long Hari Raya break, they said. The market will be closed next Monday and Tuesday for Hari Raya. Trade will resume on Wednesday, September 23.With the rainy period in Thailand and Malaysia, supply will be short and this will push up prices, a dealer said.
The dealer said the local market movement would be much in line with the performance on the Tokyo Commodity Exchange (TOCOM) as well."Muslim workers in Asia would stop tapping next week due to Hari Raya. Thus, there will be further drop in production, which will also lend support to the local market," he added.On a week-to-week basis, the Malaysian Rubber Board (MRB) official physical noon price for tyre-grade SMR 20 declined by 10.5 sen to close at 729 sen per kg from last Friday's 739.5 sen while latex in bulk also decreased by 10.5 sen to 482.5 sen per kg from 493 sen previously. The unofficial closing price for tyre-grade SMR 20 dropped by 11.5 sen to 728.5 sen per kg from 740 sen while latex in bulk dipped 13 sen to 480.5 sen per kg from 493.5 sen last week. -- Bernama
The dealer said the local market movement would be much in line with the performance on the Tokyo Commodity Exchange (TOCOM) as well."Muslim workers in Asia would stop tapping next week due to Hari Raya. Thus, there will be further drop in production, which will also lend support to the local market," he added.On a week-to-week basis, the Malaysian Rubber Board (MRB) official physical noon price for tyre-grade SMR 20 declined by 10.5 sen to close at 729 sen per kg from last Friday's 739.5 sen while latex in bulk also decreased by 10.5 sen to 482.5 sen per kg from 493 sen previously. The unofficial closing price for tyre-grade SMR 20 dropped by 11.5 sen to 728.5 sen per kg from 740 sen while latex in bulk dipped 13 sen to 480.5 sen per kg from 493.5 sen last week. -- Bernama
Saturday, September 19, 2009
रबड़ समाचार Spot rubber weakens on global cues
Spot rubber weakens on global cues
Kottayam: Spot rubber prices turned weak on Friday. The market slipped on weak international reports and a similar closing in domestic rubber futures on NMCE. Sheet rubber weakened to Rs 107 (107.50) a kg on buyer resistance.
FUTURES FIRM
The October futures closed at Rs 108.25 (108.74), November at Rs 109.50 (109.93), December at Rs 110.89 (110.94) and January at Rs 112.40 (111.69) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 declined at its September futures to ¥196 (¥199.8) (Rs 103.30), October to ¥193.5 (¥197.7), November to ¥195.4 (¥199.5), December to ¥197.7 (¥200.9), January to ¥200.4 (¥204.1) and February to ¥203.1 (¥206.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/09/19/stories/2009091950611600.htm
Kottayam: Spot rubber prices turned weak on Friday. The market slipped on weak international reports and a similar closing in domestic rubber futures on NMCE. Sheet rubber weakened to Rs 107 (107.50) a kg on buyer resistance.
FUTURES FIRM
The October futures closed at Rs 108.25 (108.74), November at Rs 109.50 (109.93), December at Rs 110.89 (110.94) and January at Rs 112.40 (111.69) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 declined at its September futures to ¥196 (¥199.8) (Rs 103.30), October to ¥193.5 (¥197.7), November to ¥195.4 (¥199.5), December to ¥197.7 (¥200.9), January to ¥200.4 (¥204.1) and February to ¥203.1 (¥206.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/09/19/stories/2009091950611600.htm
Rubber Posts Worst Loss in 4 Weeks as Chinese Demand May Slow
Rubber Posts Worst Loss in 4 Weeks as Chinese Demand May Slow
By Aya Takada
Sept. 18 (Bloomberg) -- Rubber dropped for the first time in four days, booking the worst loss in four weeks, amid concern that demand in China may slow after the U.S. imposed tariffs on tire imports from the Asian country.
Futures in Tokyo lost as much as 2.4 percent, reversing a 5.8 percent advance in the previous three days. About 30 tire makers may either have to cut production or suspend output completely because they can’t export to the U.S., according to the China Rubber Industry Association yesterday. The U.S. imposed tariffs of 35 percent on tires from China in response to a so-called safeguard petition filed to protect U.S. producers.
“The market was capped by concern the U.S. action may have a negative impact on consumption,” Hisaaki Tasaka, analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone.
February-delivery rubber fell 1.8 percent to settle at 203.1 yen a kilogram ($2,230 a metric ton) on the Tokyo Commodity Exchange. Prices dropped 5.6 percent this week, the largest loss since the week ended Aug. 21.
Futures also declined as investors reduced holdings before the Tokyo exchange closes from Sept. 21 to Sept. 23 for public holidays, Tasaka said.
Rubber gained 49 percent this year as surging car sales in China, the world’s largest consumer, spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers. A 4 trillion yuan ($586 billion) stimulus plan has shielded the country from the global recession, helping car sales jump at least 45 percent for four months in a row.
Stockpiles Rising
January-delivery rubber on the Shanghai Futures Exchange lost 1.3 percent to close at 17,285 yuan ($2,537) a ton.
Prices in Shanghai dropped on speculation stockpiles may keep rising after reaching the highest level since March 2008 last week, Tasaka said. Rubber inventories monitored by the exchange increased 5,755 tons to 91,551 tons, the bourse said Sept. 11, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin.
By Aya Takada
Sept. 18 (Bloomberg) -- Rubber dropped for the first time in four days, booking the worst loss in four weeks, amid concern that demand in China may slow after the U.S. imposed tariffs on tire imports from the Asian country.
Futures in Tokyo lost as much as 2.4 percent, reversing a 5.8 percent advance in the previous three days. About 30 tire makers may either have to cut production or suspend output completely because they can’t export to the U.S., according to the China Rubber Industry Association yesterday. The U.S. imposed tariffs of 35 percent on tires from China in response to a so-called safeguard petition filed to protect U.S. producers.
“The market was capped by concern the U.S. action may have a negative impact on consumption,” Hisaaki Tasaka, analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone.
February-delivery rubber fell 1.8 percent to settle at 203.1 yen a kilogram ($2,230 a metric ton) on the Tokyo Commodity Exchange. Prices dropped 5.6 percent this week, the largest loss since the week ended Aug. 21.
Futures also declined as investors reduced holdings before the Tokyo exchange closes from Sept. 21 to Sept. 23 for public holidays, Tasaka said.
Rubber gained 49 percent this year as surging car sales in China, the world’s largest consumer, spurred investor buying. China’s passenger-car sales rose a record 90 percent last month, according to the China Association of Automobile Manufacturers. A 4 trillion yuan ($586 billion) stimulus plan has shielded the country from the global recession, helping car sales jump at least 45 percent for four months in a row.
Stockpiles Rising
January-delivery rubber on the Shanghai Futures Exchange lost 1.3 percent to close at 17,285 yuan ($2,537) a ton.
Prices in Shanghai dropped on speculation stockpiles may keep rising after reaching the highest level since March 2008 last week, Tasaka said. Rubber inventories monitored by the exchange increased 5,755 tons to 91,551 tons, the bourse said Sept. 11, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin.
Friday, September 18, 2009
NYMEX-Crude edges down towards $72 as equities dip
NYMEX-Crude edges down towards $72 as equities dip
TOKYO - U.S. crude futures inched down towards $72 a barrel on Friday, adding to slight losses from the previous day when a fall in U.S. equities offset solid economic data in the world's largest oil consuming nation to weaken prices.
FUNDAMENTALS
NYMEX crude for October delivery CLc1 was down 11 cents at $72.36 a barrel by 0007 GMT, after settling down 4 cents on Thursday, when prices slipped as Wall Street closed down after a three-day runup on concern recent gains were overextended.
Oil has tracked equities markets closely in recent months as dealers look to stocks as a leading indicator of an economic recovery that could boost ailing energy demand. (Reuters)
http://in.reuters.com/article/oilRpt/idINT33055220090918?sp=true
TOKYO - U.S. crude futures inched down towards $72 a barrel on Friday, adding to slight losses from the previous day when a fall in U.S. equities offset solid economic data in the world's largest oil consuming nation to weaken prices.
FUNDAMENTALS
NYMEX crude for October delivery CLc1 was down 11 cents at $72.36 a barrel by 0007 GMT, after settling down 4 cents on Thursday, when prices slipped as Wall Street closed down after a three-day runup on concern recent gains were overextended.
Oil has tracked equities markets closely in recent months as dealers look to stocks as a leading indicator of an economic recovery that could boost ailing energy demand. (Reuters)
http://in.reuters.com/article/oilRpt/idINT33055220090918?sp=true
रबड़ समाचार
Spot rubber gains on cues from futures Kottayam: The physical rubber prices gained further on Thursday. The market reacted favourably to the gains in domestic futures as there were no sellers in the regional marketing centres to hammer the sentiments. Sheet rubber closed firm at Rs 107.50 (106) a kg mainly on covering purchases. The transactions were low. Futures firm The October futures firmed up to Rs 108.99 (106.23), November to Rs 110.06 (107.39), December to Rs 111.25 (107.91) and January to Rs 112.05 (108.48) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 improved at its September futures to ¥199.8 (¥196.7) (Rs 105.32), October to ¥197.7 (¥193.8), November to ¥199.5 (¥196.6), December to ¥200.9 (¥197.8), January to ¥204.1 (¥200.6) and February to ¥206.8 (¥203.3) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The September futures moved down to ¥191.1 (Rs 100.74), October to ¥195.7, November to ¥197, December to ¥199.8, January to ¥203.7 and February to ¥206.6 a kg during the night session. RSS 3 moved up to Rs 107.68 (106) a kg on Singapore Commodity Exchange (SICOM). The grade closed marginally higher at Rs 106.33 (105.55) a kg at Bangkok. (BL) http://www.thehindubusinessline.com/2009/09/18/stories/2009091852121600.htm
Rubber Advances a Third Day as Higher Oil Boosts Cost of Rival
Rubber Advances a Third Day as Higher Oil Boosts Cost of Rival Sept. 17 (Bloomberg) -- Rubber advanced for a third day after crude oil increased, raising the appeal of the commodity as an alternative to synthetic products made from petroleum. Futures in Tokyo gained as much as 3.5 percent to the highest since Sept. 14, when prices fell the most in nine months on concern that U.S. tariffs on tire imports from China may weaken rubber demand in the Asian country. “Rubber chased a rally in oil and other commodities,” research manager at Mitsubishi Corp. Futures & Securities Ltd., said by phone today. “Good economic data from the U.S. also supported rubber prices.” February-delivery rubber climbed 1.7 percent to 206.8 yen ($2,280 a metric ton) a kilogram on the Tokyo Commodity Exchange. Crude oil in New York jumped 2.2 percent yesterday after the U.S. Energy Department reported stockpiles of the fuel in the biggest energy consuming nation dropped to the lowest level since January. Crude oil for October delivery was down 11 cents at $72.40 a barrel in electronic trading on the New York Mercantile Exchange at 3:49 p.m. Singapore time. Reports on U.S. industrial production and consumer prices yesterday showed the country is emerging from the recession. A report today may show U.S. builders broke ground in August on the most houses in nine months, another sign the industry that precipitated the worst financial crisis since the Great Depression is stabilizing, economists said. Separate data from the Federal Reserve Bank of Philadelphia may show manufacturing in the region increased this month.
Thursday, September 17, 2009
Rubber Climbs for Third Day as Higher Oil Boosts Cost of Rival
Rubber Climbs for Third Day as Higher Oil Boosts Cost of Rival
Rubber advanced for a third day after crude oil increased, raising the appeal of the commodity as an alternative to synthetic products made from petroleum.
Futures in Tokyo gained as much as 3.5 percent to the highest since Sept. 14, when prices fell the most in nine months on concern that U.S. tariffs on tire imports from China may weaken rubber demand in the Asian country.
Crude oil in New York rallied 2.2 percent yesterday after the U.S. Energy Department reported stockpiles of the fuel in the biggest energy consuming nation dropped to the lowest level since January. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=aHx9RhId5DDg
Rubber advanced for a third day after crude oil increased, raising the appeal of the commodity as an alternative to synthetic products made from petroleum.
Futures in Tokyo gained as much as 3.5 percent to the highest since Sept. 14, when prices fell the most in nine months on concern that U.S. tariffs on tire imports from China may weaken rubber demand in the Asian country.
Crude oil in New York rallied 2.2 percent yesterday after the U.S. Energy Department reported stockpiles of the fuel in the biggest energy consuming nation dropped to the lowest level since January. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=aHx9RhId5DDg
Rubber output shortfall unlikely to be bridged
Rubber output shortfall unlikely to be bridged
Kochi: The country's natural rubber production has dropped 5.7 per cent during the first eight months of the current year. However, a good portion of this shortfall is likely to be made good during the ensuing peak tapping season. The shortfall could be bridged to 3.7 per cent, according to Mr Sajen Peter, Chairman of the Rubber Board.
To a degree the fall in production was contributed by large and growing areas of rubber plantations with "aged trees", whose productivity is low. Despite productive area expanding 3,000 hectares last year, the production shortfall would mainly be on account of a decline in yield from 1,903 kg/hectare to an anticipated 1,820 kg/hectare expected in 2009. The Malaysia-based Association of Natural Rubber Producing Countries (ANRPC) said that a major portion of this fall would be due to aged trees lowering production and productivity. (BL)
http://www.thehindubusinessline.com/2009/09/17/stories/2009091751461601.htm
Kochi: The country's natural rubber production has dropped 5.7 per cent during the first eight months of the current year. However, a good portion of this shortfall is likely to be made good during the ensuing peak tapping season. The shortfall could be bridged to 3.7 per cent, according to Mr Sajen Peter, Chairman of the Rubber Board.
To a degree the fall in production was contributed by large and growing areas of rubber plantations with "aged trees", whose productivity is low. Despite productive area expanding 3,000 hectares last year, the production shortfall would mainly be on account of a decline in yield from 1,903 kg/hectare to an anticipated 1,820 kg/hectare expected in 2009. The Malaysia-based Association of Natural Rubber Producing Countries (ANRPC) said that a major portion of this fall would be due to aged trees lowering production and productivity. (BL)
http://www.thehindubusinessline.com/2009/09/17/stories/2009091751461601.htm
Spot rubber improves on global cues
Spot rubber improves on global cues
Kottayam: Spot rubber improved on Wednesday. Another better closing in global rubber futures and the absence of sellers in the domestic trading houses kept the under current firm during the day.
Sheet rubber increased to Rs 106 from Rs 104 a kg on covering purchases. There were no enquiries from the tyre sector. The trend was mixed as ungraded rubber and latex finished unchanged and the volumes were narrow amidst low supplies.
Futures firm
The October futures closed at Rs 106.15 (106.46), November at Rs 107.40 (107.41), December at Rs 107.70 (107.61) and January at Rs 108.40 (105.20) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). (BL)
http://www.thehindubusinessline.com/2009/09/17/stories/2009091751501600.htm
Kottayam: Spot rubber improved on Wednesday. Another better closing in global rubber futures and the absence of sellers in the domestic trading houses kept the under current firm during the day.
Sheet rubber increased to Rs 106 from Rs 104 a kg on covering purchases. There were no enquiries from the tyre sector. The trend was mixed as ungraded rubber and latex finished unchanged and the volumes were narrow amidst low supplies.
Futures firm
The October futures closed at Rs 106.15 (106.46), November at Rs 107.40 (107.41), December at Rs 107.70 (107.61) and January at Rs 108.40 (105.20) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). (BL)
http://www.thehindubusinessline.com/2009/09/17/stories/2009091751501600.htm
Wednesday, September 16, 2009
India Commodity Turnover Climbs 31% on Farm Goods Trading Surge
India Commodity Turnover Climbs 31% on Farm Goods Trading Surge
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By Thomas Kutty Abraham
Sept. 16 (Bloomberg) -- Turnover on the Multi Commodity Exchange of India Ltd. and its rivals expanded 31 percent in the April-August period, led by a surge in trading of farm goods.
Commodities worth 27.3 trillion rupees ($559 billion) were traded in the five-month period, compared with 20.8 trillion rupees a year earlier, the Forward Markets Commission, which regulates the country’s 21 commodity exchanges, said in a statement on its Web site.
Trading in agricultural commodities surged 56 percent to 4.4 trillion rupees in the five months to Aug. 31 after the government ended a ban on soybean oil, rubber, potato, chickpea and wheat futures. Trading in gold and silver dropped 5 percent to 10 trillion rupees, the market regulator said.
Contracts worth 3.04 trillion rupees changed hands on the exchanges in the two weeks ended Aug. 31, up from 2.03 trillion rupees in the same period a year earlier, the regulator said.
Domestic traders, producers and consuming companies are the main participants in India’s commodity exchanges. Overseas funds aren’t allowed to trade commodity futures.
Share Email Print A A A
By Thomas Kutty Abraham
Sept. 16 (Bloomberg) -- Turnover on the Multi Commodity Exchange of India Ltd. and its rivals expanded 31 percent in the April-August period, led by a surge in trading of farm goods.
Commodities worth 27.3 trillion rupees ($559 billion) were traded in the five-month period, compared with 20.8 trillion rupees a year earlier, the Forward Markets Commission, which regulates the country’s 21 commodity exchanges, said in a statement on its Web site.
Trading in agricultural commodities surged 56 percent to 4.4 trillion rupees in the five months to Aug. 31 after the government ended a ban on soybean oil, rubber, potato, chickpea and wheat futures. Trading in gold and silver dropped 5 percent to 10 trillion rupees, the market regulator said.
Contracts worth 3.04 trillion rupees changed hands on the exchanges in the two weeks ended Aug. 31, up from 2.03 trillion rupees in the same period a year earlier, the regulator said.
Domestic traders, producers and consuming companies are the main participants in India’s commodity exchanges. Overseas funds aren’t allowed to trade commodity futures.
Rubber Gains as U.S. Consumer Spending Boosts Demand Optimism
Rubber Gains as U.S. Consumer Spending Boosts Demand Optimism
Tokyo: Rubber jumped, advancing for a second day after U.S. retail sales in August expanded by the most in three years, increasing speculation that a recovery in the world’s largest economy will swell demand.
Futures in Tokyo surged as much as 3.4 percent, also boosted by Federal Reserve Chairman Ben S. Bernanke’s comments in Washington yesterday that the worst U.S. recession since the 1930s has probably ended. Rubber plunged to a six-week low yesterday amid concern that demand in China, the world’s largest consumer, may be hurt by a U.S. tariff on Chinese tire imports.
“Better-than-expected U.S. sales data provided support to the price of futures,” Kazuhiko Saito, chief analyst at Tokyo- based commodity broker Fujitomi Co., said today by phone. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=aJEDFFrw.pCU
Tokyo: Rubber jumped, advancing for a second day after U.S. retail sales in August expanded by the most in three years, increasing speculation that a recovery in the world’s largest economy will swell demand.
Futures in Tokyo surged as much as 3.4 percent, also boosted by Federal Reserve Chairman Ben S. Bernanke’s comments in Washington yesterday that the worst U.S. recession since the 1930s has probably ended. Rubber plunged to a six-week low yesterday amid concern that demand in China, the world’s largest consumer, may be hurt by a U.S. tariff on Chinese tire imports.
“Better-than-expected U.S. sales data provided support to the price of futures,” Kazuhiko Saito, chief analyst at Tokyo- based commodity broker Fujitomi Co., said today by phone. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=aJEDFFrw.pCU
Rubber news
Spot rubber prices improve
Kottayam: The physical rubber rates turned better on Tuesday. The market flared up following the gains domestic futures on NMCE. A moderate recovery in TOCOM rubber futures catalysed the sentiments further. Sheet rubber bounced back to Rs 104 from Rs 100.50 a kg mainly on covering purchases.
“We expect the prices to improve further as there were no sellers in the market during the late trading hours, ” an observer said.
Futures improve
The September futures improved to Rs 105 (102.50), October to Rs 106.66 (102.57), November to Rs 107.53 (103.40) and December to Rs 107.68 (103.54) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). (BL)
Kottayam: The physical rubber rates turned better on Tuesday. The market flared up following the gains domestic futures on NMCE. A moderate recovery in TOCOM rubber futures catalysed the sentiments further. Sheet rubber bounced back to Rs 104 from Rs 100.50 a kg mainly on covering purchases.
“We expect the prices to improve further as there were no sellers in the market during the late trading hours, ” an observer said.
Futures improve
The September futures improved to Rs 105 (102.50), October to Rs 106.66 (102.57), November to Rs 107.53 (103.40) and December to Rs 107.68 (103.54) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). (BL)
Rubber rates as on 16.9.9
Lot 98buyr,may be available 100
RSSv102
RSSiv108buyr
Tkyo+9Y
Futr+Rs1
Crude+
Mkt uncertain
seller withdrawn
RSSv102
RSSiv108buyr
Tkyo+9Y
Futr+Rs1
Crude+
Mkt uncertain
seller withdrawn
Tuesday, September 15, 2009
Lot95 buyer,may be available
RSSv98 buyer
RSSiv101 buyer
kochi95
Isnr20@95
tokyo+2Y
future+Rs2
Market steady
RSSv98 buyer
RSSiv101 buyer
kochi95
Isnr20@95
tokyo+2Y
future+Rs2
Market steady
Rubber news-002 dt 15.09.09 time10.15a.m. I.S.T
Spot rubber declines further
Kottayam: Spot rubber weakened further on Monday. The market continued to witness moderate selling from dealers and growers reacting to the sharp declines in rubber futures on TOCOM.
Sheet rubber moved down to Rs 100.50 from Rs 102.50 a kg in the absence of fresh enquiries from major consuming industries. Fears on further fall in prices following the resumption of tapping in most of the plantations kept the sentiments under pressure during the session.
Futures improve
The September futures for RSS 4 improved to Rs 102.50 (101.50), October to Rs 102.65 (101.47), November to Rs 103.50 (102.30) and December to Rs 103.36 (103.27) a kg on National Multi Commodity Exchange (NMCE). RSS 3 September futures fell to ¥185 (¥204.7) (Rs.99.27), October to ¥186.1 (¥203.8), November to ¥187 (¥205.1), December to ¥189.2 (¥208.1), January to ¥192.5 (¥211.7) and February to ¥195.4 (¥215.1) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/09/15/stories/2009091551791600.htm
India may overtake China in rubber consumption
Coonoor: If weather improves between October and January, the peak tapping season for rubber, India can match its production target of 8.67 lakh tonnes in 2009-10, Mr Toms Joseph, Scientist, Planning Division of the Rubber Board, said.
The present indication however shows a 13.3 per cent drop in production between April-August 2009, according to the Board's provisional production estimates.
Overtaking china
On the consumption front, India is expected to move from being the third largest consumer to the second biggest, overtaking China, even as global consumption is projected to decline by 5.5 per cent in 2009 to 9.53 million tonnes.
The country till recently was the fourth largest consumer next only to the US, China and Japan. (BL)
http://www.thehindubusinessline.com/2009/09/15/07hdline.htm
Plantation commodities export likely to rise 15%
Coimbatore: The global drop in production of plantation commodities should benefit India. The Exim Bank Chairman and Managing Director, Mr T C Venkatsubramanian, expects a 15 per cent increase in exports during the current fiscal.
‘focus on niche’
Addressing a technical session at the United Planters’ Association of Southern India, Mr Venkatsubramanian said export of plantation commodities during 2008-09 was $1.9 billion. “It should increase by 15 per cent this year. However, a small drop in the price levels should see exports go up drastically. Planters should strive to increase productivity and be more cost-effective to improve the country’s stand on the export front. Small growers should focus on niche products to explore opportunities. The Exim Bank will extend support,” he said.
Out of the total production of 15.5 million tonnes in 2008-09, plantation commodities exports totaled 5.3 lakh tonnes, he said. (BL)
http://www.thehindubusinessline.com/2009/09/15/stories/2009091551821600.htm
Kottayam: Spot rubber weakened further on Monday. The market continued to witness moderate selling from dealers and growers reacting to the sharp declines in rubber futures on TOCOM.
Sheet rubber moved down to Rs 100.50 from Rs 102.50 a kg in the absence of fresh enquiries from major consuming industries. Fears on further fall in prices following the resumption of tapping in most of the plantations kept the sentiments under pressure during the session.
Futures improve
The September futures for RSS 4 improved to Rs 102.50 (101.50), October to Rs 102.65 (101.47), November to Rs 103.50 (102.30) and December to Rs 103.36 (103.27) a kg on National Multi Commodity Exchange (NMCE). RSS 3 September futures fell to ¥185 (¥204.7) (Rs.99.27), October to ¥186.1 (¥203.8), November to ¥187 (¥205.1), December to ¥189.2 (¥208.1), January to ¥192.5 (¥211.7) and February to ¥195.4 (¥215.1) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/09/15/stories/2009091551791600.htm
India may overtake China in rubber consumption
Coonoor: If weather improves between October and January, the peak tapping season for rubber, India can match its production target of 8.67 lakh tonnes in 2009-10, Mr Toms Joseph, Scientist, Planning Division of the Rubber Board, said.
The present indication however shows a 13.3 per cent drop in production between April-August 2009, according to the Board's provisional production estimates.
Overtaking china
On the consumption front, India is expected to move from being the third largest consumer to the second biggest, overtaking China, even as global consumption is projected to decline by 5.5 per cent in 2009 to 9.53 million tonnes.
The country till recently was the fourth largest consumer next only to the US, China and Japan. (BL)
http://www.thehindubusinessline.com/2009/09/15/07hdline.htm
Plantation commodities export likely to rise 15%
Coimbatore: The global drop in production of plantation commodities should benefit India. The Exim Bank Chairman and Managing Director, Mr T C Venkatsubramanian, expects a 15 per cent increase in exports during the current fiscal.
‘focus on niche’
Addressing a technical session at the United Planters’ Association of Southern India, Mr Venkatsubramanian said export of plantation commodities during 2008-09 was $1.9 billion. “It should increase by 15 per cent this year. However, a small drop in the price levels should see exports go up drastically. Planters should strive to increase productivity and be more cost-effective to improve the country’s stand on the export front. Small growers should focus on niche products to explore opportunities. The Exim Bank will extend support,” he said.
Out of the total production of 15.5 million tonnes in 2008-09, plantation commodities exports totaled 5.3 lakh tonnes, he said. (BL)
http://www.thehindubusinessline.com/2009/09/15/stories/2009091551821600.htm
Rubber Rallies From Six-Week Low as Weaker Yen Boosts Appeal
Rubber Rallies From Six-Week Low as Weaker Yen Boosts Appeal
By Aya Takada
Sept. 15 (Bloomberg) -- Rubber increased from a six-week low as the Japanese currency retreated against the dollar, increasing the appeal of yen-denominated contracts.
Futures in Tokyo gained as much as 1.7 percent after touching the lowest level since July 31 amid speculation that demand in China, the world’s largest consumer, may be hurt by a U.S. tariff on Chinese tire imports.
“A weaker yen gave the largest support to the price of rubber futures,” Takaki Shigemoto, an analyst at Tokyo-based commodity broker Okachi & Co., said today by phone.
February-delivery rubber added 0.8 percent to settle at 197 yen a kilogram ($2,163 a metric ton) on the Tokyo Commodity Exchange. Prices slumped 9.2 percent yesterday, the biggest daily loss in nine months.
The yen declined to 91.11 per dollar at 3:40 p.m. in Tokyo from 90.94 yesterday, when it rose to 90.21, the strongest level since Feb. 12. Hirohisa Fujii, a Democratic Party of Japan lawmaker seen as a candidate to be the nation’s next finance minister, may propose selling yen to avoid a so-called double dip in Japan’s economy, according to Nomura Securities Co.
January-delivery rubber on the Shanghai Futures Exchange lost as much as 4.9 percent to 16,850 yuan ($2,467) a ton, the lowest level since July 22, before trading at 17,385 yuan at 2:48 p.m. local time. Prices tumbled by the daily limit, or 5 percent, yesterday.
China has filed a complaint to the World Trade Organization on Barack Obama’s decision to impose a duty of 35 percent on $1.8 billion of automobile tires from the country.
‘Highly Concerned’
China “is highly concerned about the negative effect” the U.S. decision may have on its export companies, and will help tiremakers “overcome this difficulty,” Zhong Shan, vice minister at China’s Ministry of Commerce, said yesterday.
The case brought by the U.S. steelworkers’ union was the largest so-called safeguard petition filed to protect U.S. producers from increasing imports from China. Union leaders and Democratic lawmakers said the decision demonstrates Obama’s commitment to protecting U.S. workers and jobs.
President Obama downplayed the possibility that the tire tariff would spark a cycle of retaliation by China. “We’re not going to see a trade war,” Obama said yesterday in an interview with Bloomberg News.
To be sure, the actual impact on demand from the U.S. decision may be “virtually zero,” according to Michael Coleman, managing director of Aisling Analytics, a Singapore- based hedge fund.
Thai Prices Drop
“The tires we’re talking about are not tires that have much, if any, natural rubber in them,” Coleman said yesterday. The tariff had a “negative, psychological impact,” he said.
In the cash market, shippers in Thailand, the world’s largest producer and exporter, offered so-called RSS-3 grade rubber for October shipment at $2.01 a kilogram today, down from $2.10 yesterday, according to Shigemoto.
China is Thailand’s biggest rubber export market and last year accounted for about 820,000 tons out of total exports of 2.6 million tons. “If the tariff leads to the drop in China’s tire production, it will definitely affect the rubber industry,” Piyaporn Saelim, manager of the Thai Rubber Association, said by phone yesterday.
Indonesia, the world’s second-largest producer, may miss this year’s export target because of the U.S. decision, said Asril Sutan Amir, chairman of the Indonesian Rubber Association.
Indonesia may export 700,000 tons to China this year, from an earlier target of 800,000 tons, he said yesterday. That compares with 600,000 tons shipped in 2008.
To contact the reporter on this story: Aya Takada in Tokyo atakada2@bloomberg.net Last Updated: September 15, 2009 03:36 EDT
By Aya Takada
Sept. 15 (Bloomberg) -- Rubber increased from a six-week low as the Japanese currency retreated against the dollar, increasing the appeal of yen-denominated contracts.
Futures in Tokyo gained as much as 1.7 percent after touching the lowest level since July 31 amid speculation that demand in China, the world’s largest consumer, may be hurt by a U.S. tariff on Chinese tire imports.
“A weaker yen gave the largest support to the price of rubber futures,” Takaki Shigemoto, an analyst at Tokyo-based commodity broker Okachi & Co., said today by phone.
February-delivery rubber added 0.8 percent to settle at 197 yen a kilogram ($2,163 a metric ton) on the Tokyo Commodity Exchange. Prices slumped 9.2 percent yesterday, the biggest daily loss in nine months.
The yen declined to 91.11 per dollar at 3:40 p.m. in Tokyo from 90.94 yesterday, when it rose to 90.21, the strongest level since Feb. 12. Hirohisa Fujii, a Democratic Party of Japan lawmaker seen as a candidate to be the nation’s next finance minister, may propose selling yen to avoid a so-called double dip in Japan’s economy, according to Nomura Securities Co.
January-delivery rubber on the Shanghai Futures Exchange lost as much as 4.9 percent to 16,850 yuan ($2,467) a ton, the lowest level since July 22, before trading at 17,385 yuan at 2:48 p.m. local time. Prices tumbled by the daily limit, or 5 percent, yesterday.
China has filed a complaint to the World Trade Organization on Barack Obama’s decision to impose a duty of 35 percent on $1.8 billion of automobile tires from the country.
‘Highly Concerned’
China “is highly concerned about the negative effect” the U.S. decision may have on its export companies, and will help tiremakers “overcome this difficulty,” Zhong Shan, vice minister at China’s Ministry of Commerce, said yesterday.
The case brought by the U.S. steelworkers’ union was the largest so-called safeguard petition filed to protect U.S. producers from increasing imports from China. Union leaders and Democratic lawmakers said the decision demonstrates Obama’s commitment to protecting U.S. workers and jobs.
President Obama downplayed the possibility that the tire tariff would spark a cycle of retaliation by China. “We’re not going to see a trade war,” Obama said yesterday in an interview with Bloomberg News.
To be sure, the actual impact on demand from the U.S. decision may be “virtually zero,” according to Michael Coleman, managing director of Aisling Analytics, a Singapore- based hedge fund.
Thai Prices Drop
“The tires we’re talking about are not tires that have much, if any, natural rubber in them,” Coleman said yesterday. The tariff had a “negative, psychological impact,” he said.
In the cash market, shippers in Thailand, the world’s largest producer and exporter, offered so-called RSS-3 grade rubber for October shipment at $2.01 a kilogram today, down from $2.10 yesterday, according to Shigemoto.
China is Thailand’s biggest rubber export market and last year accounted for about 820,000 tons out of total exports of 2.6 million tons. “If the tariff leads to the drop in China’s tire production, it will definitely affect the rubber industry,” Piyaporn Saelim, manager of the Thai Rubber Association, said by phone yesterday.
Indonesia, the world’s second-largest producer, may miss this year’s export target because of the U.S. decision, said Asril Sutan Amir, chairman of the Indonesian Rubber Association.
Indonesia may export 700,000 tons to China this year, from an earlier target of 800,000 tons, he said yesterday. That compares with 600,000 tons shipped in 2008.
To contact the reporter on this story: Aya Takada in Tokyo atakada2@bloomberg.net Last Updated: September 15, 2009 03:36 EDT
Obama Dismisses ‘Trade War’ After Tariffs on China (Update1)
Obama Dismisses ‘Trade War’ After Tariffs on China (Update1)
By Julianna Goldman and Mark Drajem
Sept. 15 (Bloomberg) -- President Barack Obama downplayed the possibility that his imposition of tariffs on imported tires from China would spark a cycle of retaliation.
“We’re not going to see a trade war,” Obama said yesterday in an interview with Bloomberg News at the White House. “There are some tensions around this, no doubt about it. But my message is very simple: We have rules on the books.”
Obama’s argument that existing trade rules must be enforced to build support among lawmakers and the American public echoes the position taken by each of his four predecessors before they made free trade a focus. He may seek to convince China’s President Hu Jintao, whom he meets at a Group of 20 summit next week, of the need to limit the trade spat after China announced a probe into the pricing of U.S. chicken and auto products.
“There are ten to 50 companies on the U.S. side biting their nails to the bone, hoping they are not caught up in this,” said Robert Kapp, a Port Townsend, Washington-based business consultant specializing in China.
Obama’s decision on tires may encourage U.S. producers of apparel, steel or other goods to file similar safeguard complaints against imports from China, and spur China to retaliate, Kapp said.
Obama said Sept. 11 that he will impose duties of 35 percent on $1.8 billion of automobile tires from China, acting on a petition by the United Steelworkers union.
Summit Meeting
“We’ve got to establish credibility and enforcement of the rules precisely because I want to further expand trade,” Obama said in the interview, when asked what he will tell Hu at the G- 20 meeting next week in Pittsburgh. “And that is something that I think the Chinese government should understand.”
China called the tariffs an “abuse” yesterday and filed a complaint with the World Trade Organization.
“We don’t want to see individual trade remedy cases hurt the trade and economic relationship between China and the U.S.,” said Yao Jian, a Ministry of Commerce spokesman, at a briefing in Beijing today.
The tire tariffs will hurt labor-intensive Chinese industries that contribute to social stability, Yao also said. “It’s not fair if the U.S. only cares about its own employment and not China’s growth,” he said. “As the U.S. is the origin of the global financial crisis, it should shoulder moral responsibility, act cautiously and refrain from the use of trade remedies.”
Union Support
The case brought by the steelworkers union was the largest so-called safeguard petition filed to protect U.S. producers from increasing imports from China. Union leaders and Democratic lawmakers said the decision demonstrates Obama’s commitment to protecting U.S. workers and jobs.
Governments round the world have planned 130 protectionist measures that have yet to be implemented, according to a tally by Global Trade Alert, a team of trade analysts, the Wall Street Journal reported.
“G-20 leaders should undertake a stronger commitment to open markets and make concrete their call to conclude the Doha Round in 2010,” the heads of the World Trade Organization, United Nations trade and development agency and Organization for Economic Cooperation and Development said yesterday in a statement. The Doha round refers to trade liberalization talks.
Retailer Opposition
U.S. retailers that rely on imports are “disappointed in the president’s decision to bow to political pressure,” Stephanie Lester, vice president of the Retail Industry Leaders Association, which represents companies such as Wal-Mart Stores Inc. and Target Corp., said in a statement.
The retailers hope administration officials “will be more judicious in their responses to any future safeguard petitions,” she said.
The “risk is that it just spirals” into a trade war, David Spooner, a former Commerce Department official and a lawyer at Squire, Sanders & Dempsey LLP in Washington, said in an interview yesterday. Spooner represented China’s rubber industry in the case.
As long as China continues to subsidize its manufacturers and channel government funds into export-oriented businesses, trade friction with the U.S. will remain, said Jeremie Waterman, senior director for China at the U.S. Chamber of Commerce.
The safeguard complaints “are symptoms of broader problems in the U.S.-China relationship,” he said in an interview yesterday. Obama’s decision “is not likely to save a single job, but it’s a legal and legitimate action.”
Size of Trade
The U.S. and China will try to make sure the tensions that erupted over tires don’t disrupt a commercial relationship that totaled $409 billion last year, Kapp said. China, the second- largest U.S. trading partner after Canada, is also the largest holder of U.S. debt with $776 billion.
“The Chinese will be angry,” said Elliot Feldman, a partner with Baker Hostetler LLP in Washington, who writes a blog on China trade. “But there is a limit to their anger.”
Feldman predicted China won’t prevail in its complaint over the tire tariffs because Chinese officials accepted such “safeguard cases” when it joined the WTO.
“The U.S. is confident that our action is fully WTO- consistent,” Carol Guthrie, a spokeswoman for the U.S. Trade Representative’s office, said in an interview. The safeguards were part of “the deal China agreed to.”
In safeguard cases, companies need to show only that imports are surging and not that the products benefit from subsidies or are being dumped at a discount.
Goodyear, Cooper
Some of the largest U.S. tire companies didn’t join in the union’s petition for relief from Chinese tire imports. Goodyear Tire & Rubber Co., the largest U.S. tiremaker, stayed neutral. Cooper Tire & Rubber Co., the second-largest U.S. tiremaker, opposed the relief. The company has a plant in China.
“We see positive implications for U.S. pricing,” Deutsche Bank Group said in a report yesterday. “Tightening supplies of Chinese tires could exacerbate this phenomenon in the U.S.”
The USA Poultry & Egg Export Council said China’s move to investigate whether the U.S. sold poultry there for below-market prices was prompted partly by bad U.S. trade policies, including the tariffs on tires.
“Our own government is creating these problems more so than the Chinese,” James Sumner, president of the group representing producers of 90 percent of U.S. chicken and egg exports, said in an interview yesterday. “We are upset with the way this has been handled by the administration.”
To contact the reporters on this story: Mark Drajem in Washington at mdrajem@bloomberg.net; thoman1@bloomberg.net; Julianna Goldman in Minneapolis at jgoldman6@bloomberg.net. Last Updated: September 15, 2009 00:56 EDT
By Julianna Goldman and Mark Drajem
Sept. 15 (Bloomberg) -- President Barack Obama downplayed the possibility that his imposition of tariffs on imported tires from China would spark a cycle of retaliation.
“We’re not going to see a trade war,” Obama said yesterday in an interview with Bloomberg News at the White House. “There are some tensions around this, no doubt about it. But my message is very simple: We have rules on the books.”
Obama’s argument that existing trade rules must be enforced to build support among lawmakers and the American public echoes the position taken by each of his four predecessors before they made free trade a focus. He may seek to convince China’s President Hu Jintao, whom he meets at a Group of 20 summit next week, of the need to limit the trade spat after China announced a probe into the pricing of U.S. chicken and auto products.
“There are ten to 50 companies on the U.S. side biting their nails to the bone, hoping they are not caught up in this,” said Robert Kapp, a Port Townsend, Washington-based business consultant specializing in China.
Obama’s decision on tires may encourage U.S. producers of apparel, steel or other goods to file similar safeguard complaints against imports from China, and spur China to retaliate, Kapp said.
Obama said Sept. 11 that he will impose duties of 35 percent on $1.8 billion of automobile tires from China, acting on a petition by the United Steelworkers union.
Summit Meeting
“We’ve got to establish credibility and enforcement of the rules precisely because I want to further expand trade,” Obama said in the interview, when asked what he will tell Hu at the G- 20 meeting next week in Pittsburgh. “And that is something that I think the Chinese government should understand.”
China called the tariffs an “abuse” yesterday and filed a complaint with the World Trade Organization.
“We don’t want to see individual trade remedy cases hurt the trade and economic relationship between China and the U.S.,” said Yao Jian, a Ministry of Commerce spokesman, at a briefing in Beijing today.
The tire tariffs will hurt labor-intensive Chinese industries that contribute to social stability, Yao also said. “It’s not fair if the U.S. only cares about its own employment and not China’s growth,” he said. “As the U.S. is the origin of the global financial crisis, it should shoulder moral responsibility, act cautiously and refrain from the use of trade remedies.”
Union Support
The case brought by the steelworkers union was the largest so-called safeguard petition filed to protect U.S. producers from increasing imports from China. Union leaders and Democratic lawmakers said the decision demonstrates Obama’s commitment to protecting U.S. workers and jobs.
Governments round the world have planned 130 protectionist measures that have yet to be implemented, according to a tally by Global Trade Alert, a team of trade analysts, the Wall Street Journal reported.
“G-20 leaders should undertake a stronger commitment to open markets and make concrete their call to conclude the Doha Round in 2010,” the heads of the World Trade Organization, United Nations trade and development agency and Organization for Economic Cooperation and Development said yesterday in a statement. The Doha round refers to trade liberalization talks.
Retailer Opposition
U.S. retailers that rely on imports are “disappointed in the president’s decision to bow to political pressure,” Stephanie Lester, vice president of the Retail Industry Leaders Association, which represents companies such as Wal-Mart Stores Inc. and Target Corp., said in a statement.
The retailers hope administration officials “will be more judicious in their responses to any future safeguard petitions,” she said.
The “risk is that it just spirals” into a trade war, David Spooner, a former Commerce Department official and a lawyer at Squire, Sanders & Dempsey LLP in Washington, said in an interview yesterday. Spooner represented China’s rubber industry in the case.
As long as China continues to subsidize its manufacturers and channel government funds into export-oriented businesses, trade friction with the U.S. will remain, said Jeremie Waterman, senior director for China at the U.S. Chamber of Commerce.
The safeguard complaints “are symptoms of broader problems in the U.S.-China relationship,” he said in an interview yesterday. Obama’s decision “is not likely to save a single job, but it’s a legal and legitimate action.”
Size of Trade
The U.S. and China will try to make sure the tensions that erupted over tires don’t disrupt a commercial relationship that totaled $409 billion last year, Kapp said. China, the second- largest U.S. trading partner after Canada, is also the largest holder of U.S. debt with $776 billion.
“The Chinese will be angry,” said Elliot Feldman, a partner with Baker Hostetler LLP in Washington, who writes a blog on China trade. “But there is a limit to their anger.”
Feldman predicted China won’t prevail in its complaint over the tire tariffs because Chinese officials accepted such “safeguard cases” when it joined the WTO.
“The U.S. is confident that our action is fully WTO- consistent,” Carol Guthrie, a spokeswoman for the U.S. Trade Representative’s office, said in an interview. The safeguards were part of “the deal China agreed to.”
In safeguard cases, companies need to show only that imports are surging and not that the products benefit from subsidies or are being dumped at a discount.
Goodyear, Cooper
Some of the largest U.S. tire companies didn’t join in the union’s petition for relief from Chinese tire imports. Goodyear Tire & Rubber Co., the largest U.S. tiremaker, stayed neutral. Cooper Tire & Rubber Co., the second-largest U.S. tiremaker, opposed the relief. The company has a plant in China.
“We see positive implications for U.S. pricing,” Deutsche Bank Group said in a report yesterday. “Tightening supplies of Chinese tires could exacerbate this phenomenon in the U.S.”
The USA Poultry & Egg Export Council said China’s move to investigate whether the U.S. sold poultry there for below-market prices was prompted partly by bad U.S. trade policies, including the tariffs on tires.
“Our own government is creating these problems more so than the Chinese,” James Sumner, president of the group representing producers of 90 percent of U.S. chicken and egg exports, said in an interview yesterday. “We are upset with the way this has been handled by the administration.”
To contact the reporters on this story: Mark Drajem in Washington at mdrajem@bloomberg.net; thoman1@bloomberg.net; Julianna Goldman in Minneapolis at jgoldman6@bloomberg.net. Last Updated: September 15, 2009 00:56 EDT
Rubber alert-001/15/9/09
15/09/09 Time 9.40a.m(I.S.T)
Rubber prices slip on likely rise in supply
Kochi: The downward trend in rubber prices during the past few days might continue on expectations of a rise in supply as well as thin demand from exporters, dealers said. If the current trend prevailed, the benchmark RSS-4 grade could slip to Rs 100-105 a kg from the current levels of Rs 107, they said.
Revival of exports, however, could check the downward momentum in rubber prices. Domestic rubber prices slipping below overseas rates could spur demand from exporters, they said. On Friday, RSS-3 grade in Singapore at Rs 110.16 was higher compared with Rs 107 for its equivalent RSS-4 grade here, dealers said. If the gap between overseas and domestic rates widens to the level of Rs 10 a kg, demand from exporters would pick up, they added.
Supply rise
Although overall rubber output fell 13 per cent on year to 273,525 tonnes in April-August, the supply levels started moving up from this month, dealers said.
Average arrivals in the key spot trading hub such as Kottayam had moved up to 700 tonnes a day during the last three-four days compared with 300 tonnes few weeks ago, said Kochumon, a dealer based in Kottayam. Weakened rains in growing areas in Kerala and growers releasing stocks, held back due to beginning of peak output season, also prompted easing of supplies, he said. Lull in rain is expected to improve fresh crop supply due to increase in the number of tapping days. (BS)
http://www.business-standard.com/india/news/rubber-prices-sliplikely-rise-in-supply/369914/
Rubber prices slip on likely rise in supply
Kochi: The downward trend in rubber prices during the past few days might continue on expectations of a rise in supply as well as thin demand from exporters, dealers said. If the current trend prevailed, the benchmark RSS-4 grade could slip to Rs 100-105 a kg from the current levels of Rs 107, they said.
Revival of exports, however, could check the downward momentum in rubber prices. Domestic rubber prices slipping below overseas rates could spur demand from exporters, they said. On Friday, RSS-3 grade in Singapore at Rs 110.16 was higher compared with Rs 107 for its equivalent RSS-4 grade here, dealers said. If the gap between overseas and domestic rates widens to the level of Rs 10 a kg, demand from exporters would pick up, they added.
Supply rise
Although overall rubber output fell 13 per cent on year to 273,525 tonnes in April-August, the supply levels started moving up from this month, dealers said.
Average arrivals in the key spot trading hub such as Kottayam had moved up to 700 tonnes a day during the last three-four days compared with 300 tonnes few weeks ago, said Kochumon, a dealer based in Kottayam. Weakened rains in growing areas in Kerala and growers releasing stocks, held back due to beginning of peak output season, also prompted easing of supplies, he said. Lull in rain is expected to improve fresh crop supply due to increase in the number of tapping days. (BS)
http://www.business-standard.com/india/news/rubber-prices-sliplikely-rise-in-supply/369914/
rubber news
Spot market prices are up again because of rise in futures prices. There are no major buyers, but sellers are staying away after seeing ceiling in futures.
Rubber rates as on 15/9/09 at 4.00pm
Lot 98 buyer,may be available
RSSv 100buyer
RssIv 103 buyer
kochi 96
Isnr20@96
tokyo+4Y
future+Rs5
Market uncertain.
RSSv 100buyer
RssIv 103 buyer
kochi 96
Isnr20@96
tokyo+4Y
future+Rs5
Market uncertain.
Rubber rates as on 15/09/2009 at 11.25am
Lot95 buyer,may be available
RSSv98 buyer
RSSiv101 buyer
kochi95
tokyo+2Y
future+Rs2
Market steady
Monday, September 14, 2009
Rubber alert-3
Kottayam Lot95 abvl,
Kochi Lot 94 abvl
RssIv100 abvl
Tokyo down 18Y that is nearly by Rs.9 per kg
Future 1st half was doen by1.5%
2nd half increased marginally.
ARIHANT RUBBERS
KOTTAYAM
Kochi Lot 94 abvl
RssIv100 abvl
Tokyo down 18Y that is nearly by Rs.9 per kg
Future 1st half was doen by1.5%
2nd half increased marginally.
ARIHANT RUBBERS
KOTTAYAM
Rubber alert-2
Rubber Slumps Most in 8 Months after U.S. Imposes Tire Tariffs
Tokyo: Rubber slumped by the most in eight month after President Barack Obama imposed tariffs on tire imports from China, spurring concern demand in the world’s largest consumer of the commodity may decline.
Futures in Tokyo fell as much as 7.8 percent, the biggest decline since Jan. 13. The U.S. placed tariffs of 35 percent on $1.8 billion of tires from China, acting on a union complaint that imports were pushing U.S. workers out of jobs. China announced yesterday a probe into the alleged dumping of American auto and chicken products, two days after the U.S. action. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=a2pJIvLyRzCg
US imposes 35% duty on Chinese tyres
Washington/Beijing: US President Barack Obama has imposed a whopping 35 per cent additional import duty on Chinese tyres in a bid to protect the domestic market, drawing the ire of Beijing which described the measure as ‘protectionist’ and violation of WTO rules.
The additional import duty would be in force for three years, however, it would decline by five per cent each in subsequent years.
"The additional duty to passenger vehicle and light truck tires complementing the existing four per cent duty will be set at 35 per cent ad valorem for the first year, 30 per cent ad valorem the second year, and 25 per cent ad valorem the third year," the White House said in a statement. (FE)
http://www.financialexpress.com/news/us-imposes-35-duty-on-chinese-tyres/516331/
Tokyo: Rubber slumped by the most in eight month after President Barack Obama imposed tariffs on tire imports from China, spurring concern demand in the world’s largest consumer of the commodity may decline.
Futures in Tokyo fell as much as 7.8 percent, the biggest decline since Jan. 13. The U.S. placed tariffs of 35 percent on $1.8 billion of tires from China, acting on a union complaint that imports were pushing U.S. workers out of jobs. China announced yesterday a probe into the alleged dumping of American auto and chicken products, two days after the U.S. action. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=a2pJIvLyRzCg
US imposes 35% duty on Chinese tyres
Washington/Beijing: US President Barack Obama has imposed a whopping 35 per cent additional import duty on Chinese tyres in a bid to protect the domestic market, drawing the ire of Beijing which described the measure as ‘protectionist’ and violation of WTO rules.
The additional import duty would be in force for three years, however, it would decline by five per cent each in subsequent years.
"The additional duty to passenger vehicle and light truck tires complementing the existing four per cent duty will be set at 35 per cent ad valorem for the first year, 30 per cent ad valorem the second year, and 25 per cent ad valorem the third year," the White House said in a statement. (FE)
http://www.financialexpress.com/news/us-imposes-35-duty-on-chinese-tyres/516331/
Rubber alert
Rubber prices slip on likely rise in supply
Kochi: The downward trend in rubber prices during the past few days might continue on expectations of a rise in supply as well as thin demand from exporters, dealers said. If the current trend prevailed, the benchmark RSS-4 grade could slip to Rs 100-105 a kg from the current levels of Rs 107, they said.
Revival of exports, however, could check the downward momentum in rubber prices. Domestic rubber prices slipping below overseas rates could spur demand from exporters, they said. On Friday, RSS-3 grade in Singapore at Rs 110.16 was higher compared with Rs 107 for its equivalent RSS-4 grade here, dealers said. If the gap between overseas and domestic rates widens to the level of Rs 10 a kg, demand from exporters would pick up, they added.
Supply rise
Although overall rubber output fell 13 per cent on year to 273,525 tonnes in April-August, the supply levels started moving up from this month, dealers said.
Average arrivals in the key spot trading hub such as Kottayam had moved up to 700 tonnes a day during the last three-four days compared with 300 tonnes few weeks ago, said Kochumon, a dealer based in Kottayam. Weakened rains in growing areas in Kerala and growers releasing stocks, held back due to beginning of peak output season, also prompted easing of supplies, he said. Lull in rain is expected to improve fresh crop supply due to increase in the number of tapping days. (BS)
http://www.business-standard.com/india/news/rubber-prices-sliplikely-rise-in-supply/369914/
Kochi: The downward trend in rubber prices during the past few days might continue on expectations of a rise in supply as well as thin demand from exporters, dealers said. If the current trend prevailed, the benchmark RSS-4 grade could slip to Rs 100-105 a kg from the current levels of Rs 107, they said.
Revival of exports, however, could check the downward momentum in rubber prices. Domestic rubber prices slipping below overseas rates could spur demand from exporters, they said. On Friday, RSS-3 grade in Singapore at Rs 110.16 was higher compared with Rs 107 for its equivalent RSS-4 grade here, dealers said. If the gap between overseas and domestic rates widens to the level of Rs 10 a kg, demand from exporters would pick up, they added.
Supply rise
Although overall rubber output fell 13 per cent on year to 273,525 tonnes in April-August, the supply levels started moving up from this month, dealers said.
Average arrivals in the key spot trading hub such as Kottayam had moved up to 700 tonnes a day during the last three-four days compared with 300 tonnes few weeks ago, said Kochumon, a dealer based in Kottayam. Weakened rains in growing areas in Kerala and growers releasing stocks, held back due to beginning of peak output season, also prompted easing of supplies, he said. Lull in rain is expected to improve fresh crop supply due to increase in the number of tapping days. (BS)
http://www.business-standard.com/india/news/rubber-prices-sliplikely-rise-in-supply/369914/
Saturday, September 12, 2009
urgent alert
Urgent Alert!!!
Lot crashed to 96buyr,but no selr
lRSSIV 102 abv
Futr crashed by3.5%Sep@101.50
wait till monday for purchase. .ARIHANT RUBBER
Lot crashed to 96buyr,but no selr
lRSSIV 102 abv
Futr crashed by3.5%Sep@101.50
wait till monday for purchase. .ARIHANT RUBBER
Thursday, September 10, 2009
rubber rates
Welcome to the rubberised world of ARIHANT RUBBERS
Today market was weak,
Lot slipped down from 102 to 101 per kg.
Simiarily, Rss IV from 108 to 107 per Kg.
latex also weakened from 72 to 71 per lt for 60% D.R.C.
Today market was weak,
Lot slipped down from 102 to 101 per kg.
Simiarily, Rss IV from 108 to 107 per Kg.
latex also weakened from 72 to 71 per lt for 60% D.R.C.
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