Kochi : Natural rubber (NR) imports declined 50 per cent in October compared with the same month last year. The imports fell to 8,574 tonnes against 16,010 tonnes in October last year.
Till September, imports were on a rise due to a sharp increase in the local prices of the commodity. The international prices of RSS-3 grade were lower than the Indian prices, the difference being around Rs 17-18 a kg. This encouraged importers to utilise the price advantage.
The rubber-based industry, especially tyre makers, also reaped the benefits of the global price advantage, leading to a rise in imports in the first half. This sharp rise in imports led to an increase in the rubber stock in India. By the end of October, the country possessed 219,000 tonnes of rubber as against 150,000 tonnes in the same period last year.
At present, the price situation is in a reverse mode as the international prices are higher by Rs 7-8 a kg compared with the local prices. So, the imports have become unviable. (BS)
http://www.business-standard.com/india/news/natural-rubber-imports-dip-50/376736/
Spot rubber rules firm
Kottayam: Physical rubber prices were steady on Tuesday. The market lost its direction as there was no follow-up buying from the major manufacturers during the second trading day of the week.
A weak closing in the domestic futures and uninspiring reports from international markets kept the sentiments almost neutral. Sheet rubber closed flat at Rs 111.50 a kg amidst comparatively dull volumes.
Futures weaken
The December futures weakened to Rs 113.30 (Rs 113.98), January to Rs 115.51 (Rs 116.21), February to Rs 117.37 (Rs 117.88) and March to Rs 119.01 (Rs 119.84) a kg for RSS 4 on National Multi Commodity Exchange.
RSS 3 slipped further to Rs 118.10 (Rs 118.45) a kg on Singapore Commodity Exchange. The grade improved to Rs. 117.66 (Rs 117.35) a kg at Bangkok.
The November futures for RSS 3 closed at ¥234.3 (¥234.9) (Rs.121.65) and December at ¥236.1 (¥235.5. (BL)
http://www.thehindubusinessline.com/2009/11/18/stories/2009111850631600.htm
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