Mixed trend in spot rubber
Kottayam: The physical rubber prices showed a mixed mood on Monday. The market opened firm and moved up further on early trades but declines in the domestic futures on NMCE kept it under pressure on late trades. Sheet rubber closed at Rs 140.50 (140) after hitting an intraday high of Rs 141 a kg in the morning session. Ungraded rubber which was traded at Rs 131 a kg slipped in to the minus territory during the closing hours on buyer resistance.
Futures decline
RSS 4 declined at its January futures to Rs 142.65 (145.05), February to Rs.144.81 (147.46), March to Rs 147.12 (149.37) and April to Rs 149.50 (151.82) a kg on National Multi Commodity Exchange. The January futures for RSS 3 closed at ¥266.7 (¥267) (Rs 135.64), February at ¥267.3 (¥267.3), March at ¥269.5 (¥268.8), April at ¥270.6 (¥270.4), May at ¥273.9 (¥273.3) and June at ¥276.8 (¥276.3) a kg during the day session on Tokyo Commodity Exchange. The February futures weakened to ¥265.1, March to ¥267.9, April to ¥269.8, May to ¥272.9 and June to ¥276 a kg while the January futures remained inactive during the night session. RSS 3 closed at Rs 134.09 (132.13) a kg on Singapore Commodity Exchange. The grade (spot) was quoted at Rs 134.97 (133.70) a kg at Bangkok.
Spot rates were (Rs/kg): RSS-4: 140.50 (140); RSS-5: 134.50 (133.50); ungraded: 129 (130); ISNR 20: 131 (131) and latex 60 per cent: 84.50 (84.50). (BL)
http://www.blonnet.com/2009/12/29/stories/2009122950320900.htm
Tuesday, December 29, 2009
Sunday, December 27, 2009
Rubber at 15-month high on crude oil rally
Rubber at 15-month high on crude oil rally
Rubber climbed to a 15-month high after crude oil price rose on optimism that the US economic recovery is gathering momentum, increasing its competitiveness against rival synthetic products that are made from petroleum.
Futures in Tokyo advanced as much as 1.5 per cent to the highest level since September 26, 2008. Oil rallied for a third day yesterday as initial US jobless claims fell more-than-estimated and orders for durable goods excluding transportation equipment topped economist forecasts.
“Rising crude oil prices and a weakening yen continue to drive rubber prices higher,” Rewat Yenchai, an analyst at AGROW Enterprise, said.
Natural rubber for June delivery climbed by as much as 4 yen to 278.9 yen per kg ($3,052 a tonne) on the Tokyo Commodity Exchange before settling at 276.3 yen. Prices gained 2.5 per cent this week, extending last week’s 9.2 per cent increase.
Crude oil for February delivery rose 1.8 per cent yesterday to $78.05 a barrel on the New York Mercantile Exchange, the highest settlement since December 1. Oil rose 75 per cent this year, set for the best performance in a decade. (BS)
http://www.business-standard.com/india/news/rubber-at-15-month-highcrude-oil-rally/380743/
Saturday, December 19, 2009
Sheet rubber improves on short covering
Sheet rubber improves on short covering
Kottayam: Spot rubber prices improved on Friday. The market opened steady and continued to remain flat on early trades but the bounce back in the domestic and international rubber futures catalysed the sentiments during late trading hours. Sheet rubber firmed up to Rs 140 (138.50) a kg on fresh buying and short covering. There were no fresh quotes from the tyre sector.
Futures gain
The January futures for RSS 4 flared up to Rs 142.76 (137.68), February to Rs 144.75 (139.46), March to Rs 146.15 (141.51) and April to Rs 148.09 (143.43) a kg on National Multi Commodity Exchange (NMCE). RSS 3 declined with the December futures slipping to ¥257 (¥261) (Rs.133.03), January to ¥260.4 (¥263.1), February to ¥262.5 (¥265.2) and March to ¥263.9 (¥266.8) a kg during the day session on Tokyo Commodity Exchange. RSS 3 moved up to Rs 134.54 (133.04) a kg at Bangkok. The grade closed firm at Rs 134.10 (132.47) a kg on Singapore Commodity Exchange (SICOM). (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952981600.htm
India may emerge 2nd in rubber offtake soon
Kochi: In 2008, India overtook Japan and emerged as the third largest natural rubber consumer in the world. Now, India is projected by several international agencies to become the second-largest global consumer in the near future, Mr Toms Joseph, Economist at the Rubber Board, has said.
The elevation of India into the third place in rubber consumption comes at a time when Indian production is poised to dip sharply in 2009-10. But the country is not likely to confront any shortage in the domestic market as the opening stock was relatively very high at 2,00,013 tonnes compared with 1,64,280 tonnes last year, Mr Joseph said.
Rubber production in India was down 5.38 lakh tonnes (5.76 lakh tonnes) during the first eight months of the current year. This was even as consumption grew by 3.5 per cent to 6.15 lakh tonnes (5.94 lakh tonnes). And going by the current trends, the demand-supply mismatch is poised to aggravate further as the year progresses. By cleverly reducing its exports and increasing imports, India has been able to build on the stock available and raise it to 2.47 lakh tonnes by November-end.
However, Mr Rajiv Budhiraja, Director-General of the Automotive Tyre Manufacturers Association cautions that: “There has been a growing imbalance between production and consumption in the country since the beginning of this financial year. As in earlier years, the industry had anticipated that with the onset of the peak season in October the situation will improve. However, notwithstanding the peak season, the tyre industry is facing an acute shortage of rubber in the market, seriously impacting the manufacturing schedules of tyre majors.” (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952871600.htm
Tyre makers blame futures for rubber price rise
Kochi: Expressing concern at rising prices of natural rubber, the Automotive Tyre Manufacturers Association (ATMA) has alleged that speculation and manipulation in the rubber futures is causing distortion in spot prices of natural rubber.
According to the tyre manufacturers' body, in the last one month the average volume of daily trade has gone up from 1,000 tonnes to 4,500 tonnes.
“Certain speculators taking part in the futures trading are causing huge distortion in the market and even availability of rubber has become an issue. What is most unfortunate is that the rally being witnessed in the rubber prices is taking place at a time when rubber tapping season is at its peak,” said Mr Rajiv Budhraja, Director-General of ATMA, said in a statement here.
Interestingly, the volatility in price internationally is not as significant. For instance on SICOM, the December contracts have ranged between Rs 12,677 and Rs12,575 a quintal during December 1-11, while on NMCE, the contracts have gone up from Rs 12,705 a quintal on December 1 to Rs 13,355 on December 11.
According to Rubber Board estimates, the production was pegged at 1,03,000 tonnes in November and 1,00,000 tonnes in December this year against a consumption of 80,000 tonnes each in November and December. This should add to the availability of stock with growers and traders and, if at all, should put downward pressure on prices, he said. (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952861600.htm
Kottayam: Spot rubber prices improved on Friday. The market opened steady and continued to remain flat on early trades but the bounce back in the domestic and international rubber futures catalysed the sentiments during late trading hours. Sheet rubber firmed up to Rs 140 (138.50) a kg on fresh buying and short covering. There were no fresh quotes from the tyre sector.
Futures gain
The January futures for RSS 4 flared up to Rs 142.76 (137.68), February to Rs 144.75 (139.46), March to Rs 146.15 (141.51) and April to Rs 148.09 (143.43) a kg on National Multi Commodity Exchange (NMCE). RSS 3 declined with the December futures slipping to ¥257 (¥261) (Rs.133.03), January to ¥260.4 (¥263.1), February to ¥262.5 (¥265.2) and March to ¥263.9 (¥266.8) a kg during the day session on Tokyo Commodity Exchange. RSS 3 moved up to Rs 134.54 (133.04) a kg at Bangkok. The grade closed firm at Rs 134.10 (132.47) a kg on Singapore Commodity Exchange (SICOM). (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952981600.htm
India may emerge 2nd in rubber offtake soon
Kochi: In 2008, India overtook Japan and emerged as the third largest natural rubber consumer in the world. Now, India is projected by several international agencies to become the second-largest global consumer in the near future, Mr Toms Joseph, Economist at the Rubber Board, has said.
The elevation of India into the third place in rubber consumption comes at a time when Indian production is poised to dip sharply in 2009-10. But the country is not likely to confront any shortage in the domestic market as the opening stock was relatively very high at 2,00,013 tonnes compared with 1,64,280 tonnes last year, Mr Joseph said.
Rubber production in India was down 5.38 lakh tonnes (5.76 lakh tonnes) during the first eight months of the current year. This was even as consumption grew by 3.5 per cent to 6.15 lakh tonnes (5.94 lakh tonnes). And going by the current trends, the demand-supply mismatch is poised to aggravate further as the year progresses. By cleverly reducing its exports and increasing imports, India has been able to build on the stock available and raise it to 2.47 lakh tonnes by November-end.
However, Mr Rajiv Budhiraja, Director-General of the Automotive Tyre Manufacturers Association cautions that: “There has been a growing imbalance between production and consumption in the country since the beginning of this financial year. As in earlier years, the industry had anticipated that with the onset of the peak season in October the situation will improve. However, notwithstanding the peak season, the tyre industry is facing an acute shortage of rubber in the market, seriously impacting the manufacturing schedules of tyre majors.” (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952871600.htm
Tyre makers blame futures for rubber price rise
Kochi: Expressing concern at rising prices of natural rubber, the Automotive Tyre Manufacturers Association (ATMA) has alleged that speculation and manipulation in the rubber futures is causing distortion in spot prices of natural rubber.
According to the tyre manufacturers' body, in the last one month the average volume of daily trade has gone up from 1,000 tonnes to 4,500 tonnes.
“Certain speculators taking part in the futures trading are causing huge distortion in the market and even availability of rubber has become an issue. What is most unfortunate is that the rally being witnessed in the rubber prices is taking place at a time when rubber tapping season is at its peak,” said Mr Rajiv Budhraja, Director-General of ATMA, said in a statement here.
Interestingly, the volatility in price internationally is not as significant. For instance on SICOM, the December contracts have ranged between Rs 12,677 and Rs12,575 a quintal during December 1-11, while on NMCE, the contracts have gone up from Rs 12,705 a quintal on December 1 to Rs 13,355 on December 11.
According to Rubber Board estimates, the production was pegged at 1,03,000 tonnes in November and 1,00,000 tonnes in December this year against a consumption of 80,000 tonnes each in November and December. This should add to the availability of stock with growers and traders and, if at all, should put downward pressure on prices, he said. (BL)
http://www.thehindubusinessline.com/2009/12/19/stories/2009121952861600.htm
Friday, December 18, 2009
Spot rubber prices improve
Kottayam: Spot rubber prices improved on Thursday. The market opened better and moved up further following the gains in futures but the late declines on NMCE and TOCOM kept it under pressure during the late trading hours.
Sheet rubber managed to finish better at Rs 138.50 (137) a kg after hitting an intra-day high of Rs 140 a kg on early trades. According to observers, the market lost the initial gains partially on buyer resistance amidst profit booking at higher levels.
Futures slip
The January futures slipped to Rs 137.60 (139.59), February to Rs 139.26 (141.41), March to Rs 141.21 (143.38) and April to Rs 143.26 (145.45) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 flared up to ¥261 (¥252) (Rs 136.03), January to ¥263.1 (¥253), February to ¥265.2 (¥254.8) and March to ¥266.8 (¥257.8 a kg during the day session on Tokyo Commodity Exchange RSS 3 increased sharply to Rs 133.04 (128.87) a kg at Bangkok. The grade moved up to Rs 132.47 (130.53) a kg on Singapore Commodity Exchange. (BS)
http://www.thehindubusinessline.com/2009/12/18/stories/2009121850871600.htm
Rubber prices rise 4.5% in two days
Kochi: The price of the benchmark RSS-4 grade rubber hit the Rs 140-a-kg mark due to tight supply, tracking the rise in Asian markets like Tokyo and Singapore, dealers said.
Although the Rubber Board placed the closing price of RSS-4 grade at Rs 138.50 a kg in Kochi and Kottayam, some traders said they sold the grade at Rs 140 a kg.
With today’s gains, RSS-4 grade has risen 4.5 per cent in the last two trading sessions, and is moving towards its all-time high of Rs 142 a kg recorded in August last year, dealers said.
The upsurge in price during the peak season of output is a matter of concern, said N Radhakrishnan, former president of Cochin Rubber Merchants Association. “I doubt whether the farmers will benefit from the present rise”, he said, adding the benefits had gone mainly to traders with good stock.
Going forward, growers may be tempted to hold back stocks hoping for a further rise in price — a move that may aggravate the demand and supply mismatch, he said.
The four-month period between October and January is the peak season of rubber output in the country. (BS)
http://www.business-standard.com/india/news/rubber-prices-rise-45-in-two-days/379845/
Kottayam: Spot rubber prices improved on Thursday. The market opened better and moved up further following the gains in futures but the late declines on NMCE and TOCOM kept it under pressure during the late trading hours.
Sheet rubber managed to finish better at Rs 138.50 (137) a kg after hitting an intra-day high of Rs 140 a kg on early trades. According to observers, the market lost the initial gains partially on buyer resistance amidst profit booking at higher levels.
Futures slip
The January futures slipped to Rs 137.60 (139.59), February to Rs 139.26 (141.41), March to Rs 141.21 (143.38) and April to Rs 143.26 (145.45) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 flared up to ¥261 (¥252) (Rs 136.03), January to ¥263.1 (¥253), February to ¥265.2 (¥254.8) and March to ¥266.8 (¥257.8 a kg during the day session on Tokyo Commodity Exchange RSS 3 increased sharply to Rs 133.04 (128.87) a kg at Bangkok. The grade moved up to Rs 132.47 (130.53) a kg on Singapore Commodity Exchange. (BS)
http://www.thehindubusinessline.com/2009/12/18/stories/2009121850871600.htm
Rubber prices rise 4.5% in two days
Kochi: The price of the benchmark RSS-4 grade rubber hit the Rs 140-a-kg mark due to tight supply, tracking the rise in Asian markets like Tokyo and Singapore, dealers said.
Although the Rubber Board placed the closing price of RSS-4 grade at Rs 138.50 a kg in Kochi and Kottayam, some traders said they sold the grade at Rs 140 a kg.
With today’s gains, RSS-4 grade has risen 4.5 per cent in the last two trading sessions, and is moving towards its all-time high of Rs 142 a kg recorded in August last year, dealers said.
The upsurge in price during the peak season of output is a matter of concern, said N Radhakrishnan, former president of Cochin Rubber Merchants Association. “I doubt whether the farmers will benefit from the present rise”, he said, adding the benefits had gone mainly to traders with good stock.
Going forward, growers may be tempted to hold back stocks hoping for a further rise in price — a move that may aggravate the demand and supply mismatch, he said.
The four-month period between October and January is the peak season of rubber output in the country. (BS)
http://www.business-standard.com/india/news/rubber-prices-rise-45-in-two-days/379845/
Thursday, December 17, 2009
Rubber Climbs to 15-Month High as Demand May Gain on Recovery
Rubber Climbs to 15-Month High as Demand May Gain on Recovery
Dec. 17 (Bloomberg) -- Rubber advanced for a second day to the highest in almost 15-months after the Federal Reserve said the economy is strengthening, enhancing speculation demand for the commodity used in tires will increase.
Futures in Tokyo rose as much as 3.8 percent, extending yesterday’s 4.2 percent rally, the best performance in four months. Prices also gained as the Fed repeated its pledge to keep interest rates “exceptionally low” for “an extended period,” boosting speculation investors will increase their holdings of commodities as an alternative asset, said Shuji Sugata, research manager at Mitsubishi Corp. Futures Ltd.
“Investors are seeking to buy commodities, especially those backed by tight fundamentals,” Sugata said by phone today. “Rubber may be their choice as its demand is boosted by rising car sales in China.”
Rubber for May delivery climbed to as high as 273.8 yen per kilogram ($3,043 a metric ton), the highest level since Sept. 29, 2008, before trading at 270.6 yen on the Tokyo Commodity Exchange at 12:02 p.m. local time. Prices rose as much as 10 yen, triggering an exchange trading circuit breaker for a second day.
Rubber for March delivery on the Shanghai Futures Exchange climbed by as much as 4.1 percent to 23,280 yuan ($3,409) a ton, the highest level since August last year. The contract traded at 22,870 yuan at 11:02 a.m. local time.
China Tariffs
Prices rallied after China’s Ministry of Finance said it will cut tariffs on natural rubber imports next year, stoking speculation Chinese purchase of the commodity will increase.
The so-called temporary tariff rate for ribbed smoked sheet rubber will be set at 20 percent of the import price or 1,600 yuan ($234) a metric ton, whichever is lower, the ministry said yesterday. The tariff rate for technically specified rubber is to be set at 20 percent of the imported price or 2,000 yuan per ton, it said.
Rubber futures in Tokyo have almost doubled this year as China, the world’s largest consumer, led a recovery in demand under the government’s stimulus measures that boosted the nation’s car sales to a record.
China’s full-year auto sales may be about 13 million, according to Booz & Co., which advises carmakers and investors in China. By 2015 output in the country may reach 15 million, according to Koji Endo, managing director of Advanced Research Japan in Tokyo.
IN INDIA Spot rubber flares up on global cues
Kottayam: The domestic rubber market made another sharp come back on Wednesday. In spot, the prices flared up in tandem with the gains on NMCE and international rubber futures.
Sheet rubber increased to Rs 137 from Rs 133 a kg on fresh buying and short covering. There was no selling pressure even at higher levels and according to sources the market is expected to hit Rs 150 a kg for sheet rubber shortly.
Futures improve
The January futures improved sharply to Rs 139.75 (135.20), February to Rs 141.50 (137.21), March to Rs 143.43 (138.91) and April to Rs 145.55 a kg for RSS 4 on National Multi Commodity Exchange (NMCE). The December futures firmed up to ¥252 (¥242.1) (Rs 131.17), January to ¥253 (¥242.7), February to ¥254.8 (¥244.4) and March to ¥257.8 (¥247.1 a kg for RSS 3 during the day session on Tokyo Commodity Exchange. RSS 3 closed firm at Rs 130.53 (126.79) a kg on Singapore Commodity Exchange (SICOM). The grade moved up to Rs 128.87 (127.85) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/17/stories/2009121752821600.htm
Wednesday, December 16, 2009
Spot rubber prices recover
Spot rubber prices recover
Kottayam: Physical rubber prices turned better on Tuesday. Moderate recovery in the domestic and international rubber futures catalysed the sentiments though there were no fresh quotes from the tyre sector. Sheet rubber improved to Rs 133 from Rs 132 a kg on scattered transactions. The market made all-round gains amidst low supplies.
Futures firm
RSS 4 firmed up with the December futures increasing to Rs 134.10 (132.50), January to Rs 135.25 (133.59), February to Rs 137.20 (135.32) and March to Rs 139.16 (137) a kg on National Multi Commodity Exchange (NMCE).
RSS 3 improved with the December futures rising to ¥242.1 (¥238) (Rs 126.52), January to ¥242.7 (¥238), February to ¥244.4 (¥238.4) and March to ¥247.1 (¥241.9 a kg during the day session on Tokyo Commodity Exchange. RSS 3 closed at Rs 126.79 (124.44) a kg on Singapore Commodity Exchange (SICOM). The grade improved to Rs 127.85 (127.36) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/16/stories/2009121653201600.htm
Kottayam: Physical rubber prices turned better on Tuesday. Moderate recovery in the domestic and international rubber futures catalysed the sentiments though there were no fresh quotes from the tyre sector. Sheet rubber improved to Rs 133 from Rs 132 a kg on scattered transactions. The market made all-round gains amidst low supplies.
Futures firm
RSS 4 firmed up with the December futures increasing to Rs 134.10 (132.50), January to Rs 135.25 (133.59), February to Rs 137.20 (135.32) and March to Rs 139.16 (137) a kg on National Multi Commodity Exchange (NMCE).
RSS 3 improved with the December futures rising to ¥242.1 (¥238) (Rs 126.52), January to ¥242.7 (¥238), February to ¥244.4 (¥238.4) and March to ¥247.1 (¥241.9 a kg during the day session on Tokyo Commodity Exchange. RSS 3 closed at Rs 126.79 (124.44) a kg on Singapore Commodity Exchange (SICOM). The grade improved to Rs 127.85 (127.36) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/16/stories/2009121653201600.htm
Rubber Advances as Car Sales Rise, China May Increase Imports
Rubber Advances as Car Sales Rise, China May Increase Imports
Dec. 16 (Bloomberg) -- Rubber advanced for a fourth day on speculation rising car sales will boost demand for tires and lower tariffs may increase imports by China.
Futures in Tokyo gained as much as 3 percent, reaching the highest level in a week. China, the largest consumer, will cut tariffs on natural rubber imports in 2010 in line with its World Trade Organization commitments, the Ministry of Finance said yesterday. European car sales surged 27 percent last month, according to the European Automobile Manufacturers’ Association.
“News about China is positive for the market as its tariff reduction may stimulate imports,” Hisaaki Tasaka, an analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone. “Rising car sales also raised speculation that rubber demand from tire makers will increase.”
Rubber for May delivery, the most-active contract, gained as much as 7.7 yen to 260.9 yen per kilogram ($2,910 a metric ton) on the Tokyo Commodity Exchange, the highest since Dec. 8. It traded at 260.8 yen at 12:15 p.m. local time.
China’s volume-based tariffs will be “appropriately lowered” next year, the Ministry of Finance said yesterday without elaborating. Importers must choose between paying the duty according to the import volume or the price, according to the ministry’s statement.
China’s natural rubber imports rose to 120,000 tons in November from 100,000 tons the previous month, according to government data.
Car Sales
November car sales in Europe rose to 1.18 million from 933,458 a year earlier, the European Automobile Manufacturers’ Association said yesterday. Growth in new car registrations accelerated from 11.2 percent in October and 6.3 percent in September as vehicle-scrapping incentives boosted demand in the U.K., France and Spain.
Vehicle production in Japan will increase to 8.98 million units in 2010 from the 7.89 million estimated for this year, according to the Japan Automobile Tyre Manufacturers Association. Tire demand will rise 7 percent to 109 million units next year, the association said on its Web site.
“Rubber is supported by expectations that economic growth will accelerate next year, leading to an increase in the raw material demand,” ACE Koeki’s Tasaka said.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation heavy rain would slash production in Thailand. Four southern provinces hit by flooding late November have returned to normal, the Royal Irrigation Department said last week.
Rubber for March delivery on the Shanghai Futures Exchange climbed 2.8 percent to 22,315 yuan ($3,268) a ton at 11:15 a.m. local time
Dec. 16 (Bloomberg) -- Rubber advanced for a fourth day on speculation rising car sales will boost demand for tires and lower tariffs may increase imports by China.
Futures in Tokyo gained as much as 3 percent, reaching the highest level in a week. China, the largest consumer, will cut tariffs on natural rubber imports in 2010 in line with its World Trade Organization commitments, the Ministry of Finance said yesterday. European car sales surged 27 percent last month, according to the European Automobile Manufacturers’ Association.
“News about China is positive for the market as its tariff reduction may stimulate imports,” Hisaaki Tasaka, an analyst at Tokyo-based commodity broker ACE Koeki Co., said today by phone. “Rising car sales also raised speculation that rubber demand from tire makers will increase.”
Rubber for May delivery, the most-active contract, gained as much as 7.7 yen to 260.9 yen per kilogram ($2,910 a metric ton) on the Tokyo Commodity Exchange, the highest since Dec. 8. It traded at 260.8 yen at 12:15 p.m. local time.
China’s volume-based tariffs will be “appropriately lowered” next year, the Ministry of Finance said yesterday without elaborating. Importers must choose between paying the duty according to the import volume or the price, according to the ministry’s statement.
China’s natural rubber imports rose to 120,000 tons in November from 100,000 tons the previous month, according to government data.
Car Sales
November car sales in Europe rose to 1.18 million from 933,458 a year earlier, the European Automobile Manufacturers’ Association said yesterday. Growth in new car registrations accelerated from 11.2 percent in October and 6.3 percent in September as vehicle-scrapping incentives boosted demand in the U.K., France and Spain.
Vehicle production in Japan will increase to 8.98 million units in 2010 from the 7.89 million estimated for this year, according to the Japan Automobile Tyre Manufacturers Association. Tire demand will rise 7 percent to 109 million units next year, the association said on its Web site.
“Rubber is supported by expectations that economic growth will accelerate next year, leading to an increase in the raw material demand,” ACE Koeki’s Tasaka said.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation heavy rain would slash production in Thailand. Four southern provinces hit by flooding late November have returned to normal, the Royal Irrigation Department said last week.
Rubber for March delivery on the Shanghai Futures Exchange climbed 2.8 percent to 22,315 yuan ($3,268) a ton at 11:15 a.m. local time
Tuesday, December 15, 2009
Rubber Gains on Speculation Economic Recovery to Raise Demand
Rubber Gains on Speculation Economic Recovery to Raise Demand
Dec. 15 (Bloomberg) -- Rubber gained for a third day on speculation the recovery in global economies will boost demand for the commodity used in tires.
Futures in Tokyo climbed as much as 2.1 percent to the highest level since Dec. 9, extending the 1.9 percent gain in the previous two days. Reports this week are expected by economists to show industries in the U.S. boosted production and housing starts rebounded.
“Local investors bought the futures on speculation the commodity will benefit from the global economic recovery,” Kazuhiko Saito, chief analyst at commodity broker Fujitomi Co. in Tokyo, said today by phone.
Rubber for May delivery, the most-active contract, gained as much as 5.3 yen to 253.7 yen per kilogram ($2,862 a metric ton) on the Tokyo Commodity Exchange before trading at 252.2 yen at 10:44 a.m. local time.
U.S. industrial output rose 0.5 percent in November following a 0.1 percent increase in the previous month, according to a Bloomberg News survey before a Federal Reserve report today.
“Underlying risk appetite remains intact as credit fears wane and the economy looks to be on the mend,” said Minoru Shioiri, Tokyo-based chief manager of foreign-exchange trading at Mitsubishi UFJ Securities Co.
Thai Supply
Gains in rubber futures were limited as improved weather in producing areas in Thailand, the world’s largest exporter, eased concern that supply from the country may fall short of demand, Saito at Fujitomi said.
Thai shippers offered so-called RSS-3 grade rubber for January shipment at around $2.7 a kilogram today, little changed from Dec. 11, Saito said. Latex output is recovering after rain subsided, he added.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand. Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 1.1 percent to 21,745 yuan ($3,184) a ton at 9:56 a.m. local time.
Dec. 15 (Bloomberg) -- Rubber gained for a third day on speculation the recovery in global economies will boost demand for the commodity used in tires.
Futures in Tokyo climbed as much as 2.1 percent to the highest level since Dec. 9, extending the 1.9 percent gain in the previous two days. Reports this week are expected by economists to show industries in the U.S. boosted production and housing starts rebounded.
“Local investors bought the futures on speculation the commodity will benefit from the global economic recovery,” Kazuhiko Saito, chief analyst at commodity broker Fujitomi Co. in Tokyo, said today by phone.
Rubber for May delivery, the most-active contract, gained as much as 5.3 yen to 253.7 yen per kilogram ($2,862 a metric ton) on the Tokyo Commodity Exchange before trading at 252.2 yen at 10:44 a.m. local time.
U.S. industrial output rose 0.5 percent in November following a 0.1 percent increase in the previous month, according to a Bloomberg News survey before a Federal Reserve report today.
“Underlying risk appetite remains intact as credit fears wane and the economy looks to be on the mend,” said Minoru Shioiri, Tokyo-based chief manager of foreign-exchange trading at Mitsubishi UFJ Securities Co.
Thai Supply
Gains in rubber futures were limited as improved weather in producing areas in Thailand, the world’s largest exporter, eased concern that supply from the country may fall short of demand, Saito at Fujitomi said.
Thai shippers offered so-called RSS-3 grade rubber for January shipment at around $2.7 a kilogram today, little changed from Dec. 11, Saito said. Latex output is recovering after rain subsided, he added.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand. Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 1.1 percent to 21,745 yuan ($3,184) a ton at 9:56 a.m. local time.
Monday, December 14, 2009
INTERNATIONAL RUBBER MARKETS PRICE UPDATIONS
INTERNATIONAL RUBBER MARKETS PRICE UPDATIONS
(14-Dec-2009 , 09:48 Hours IST)
INTERNATIONAL RUBBER MARKETS PRICE UPDATIONS
DATE:14 Dec 2009
MARKETS
TOCOM (RSS3) Sep09 Fut 68 Down 241 Down 295 Down
Shanghai(RSS3) May09 Fut 142 down 184 Down
MALAYSIA ( SMR 20 ) Spot 47 Down
SICOM(RSS3) Spot
BANGKOK ( RSS3 ) Spot
(14-Dec-2009 , 09:48 Hours IST)
INTERNATIONAL RUBBER MARKETS PRICE UPDATIONS
DATE:14 Dec 2009
MARKETS
TOCOM (RSS3) Sep09 Fut 68 Down 241 Down 295 Down
Shanghai(RSS3) May09 Fut 142 down 184 Down
MALAYSIA ( SMR 20 ) Spot 47 Down
SICOM(RSS3) Spot
BANGKOK ( RSS3 ) Spot
Saturday, December 12, 2009
Rubber Climbs as Weak Yen Boosts Appeal, China’s Output Gains
Rubber Climbs as Weak Yen Boosts Appeal, China’s Output Gains
Dec. 11 (Bloomberg) -- Rubber climbed for the first time this week as a drop in Japan’s currency raised the appeal of yen-denominated contracts and growth in China’s industrial output boosted speculation raw material demand will increase.
Futures in Tokyo gained as much as 1.5 percent, reversing yesterday’s 3.6 percent slump. The yen fell as signs the global economy is improving spurred demand for higher-yielding assets. Asian stocks advanced after Chinese industrial production rose more than economists forecast and U.S. jobless claims fell to a one-year low.
“Rubber futures drew support from the currency market,” said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo. “A recovery in equities markets also increased the risk appetite of investors, leading to purchases of commodities.”
Rubber for May delivery gained as much as 3.7 yen to 247.5 yen per kilogram ($2,783 a metric ton) before settling at 247.0 yen on the Tokyo Commodity Exchange.
The Japanese currency dropped against all of its 16 major counterparts before reports today forecast to show U.S. retail sales advanced for a second month and confidence among American consumers rebounded.
China’s factory output surged 19.2 percent last month from a year earlier, exceeding the 18.2 percent median estimate in a Bloomberg News survey of 25 economists. The data came a day after a Labor Department report showed the four-week average number of Americans filing for joblessness benefits declined to a one-year low, adding to optimism the first global recession since World War II is receding.
Thai Output
Rubber futures lost 5.9 percent this week, the worst performance since the week ended Aug. 21, as output increased in top producer Thailand after rain subsided.
“In producing areas in Thailand it did not rain this week as much as before,” Shigemoto said. “Production is picking up and supply will increase.”
Thai shippers offered so-called RSS-3 grade rubber for January shipment at $2.7 a kilogram today, down from $2.8 a week earlier, he added.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand. Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 0.9 percent to 21,700 yuan ($3,178) a ton at 2:47 p.m. local time.
Dec. 11 (Bloomberg) -- Rubber climbed for the first time this week as a drop in Japan’s currency raised the appeal of yen-denominated contracts and growth in China’s industrial output boosted speculation raw material demand will increase.
Futures in Tokyo gained as much as 1.5 percent, reversing yesterday’s 3.6 percent slump. The yen fell as signs the global economy is improving spurred demand for higher-yielding assets. Asian stocks advanced after Chinese industrial production rose more than economists forecast and U.S. jobless claims fell to a one-year low.
“Rubber futures drew support from the currency market,” said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo. “A recovery in equities markets also increased the risk appetite of investors, leading to purchases of commodities.”
Rubber for May delivery gained as much as 3.7 yen to 247.5 yen per kilogram ($2,783 a metric ton) before settling at 247.0 yen on the Tokyo Commodity Exchange.
The Japanese currency dropped against all of its 16 major counterparts before reports today forecast to show U.S. retail sales advanced for a second month and confidence among American consumers rebounded.
China’s factory output surged 19.2 percent last month from a year earlier, exceeding the 18.2 percent median estimate in a Bloomberg News survey of 25 economists. The data came a day after a Labor Department report showed the four-week average number of Americans filing for joblessness benefits declined to a one-year low, adding to optimism the first global recession since World War II is receding.
Thai Output
Rubber futures lost 5.9 percent this week, the worst performance since the week ended Aug. 21, as output increased in top producer Thailand after rain subsided.
“In producing areas in Thailand it did not rain this week as much as before,” Shigemoto said. “Production is picking up and supply will increase.”
Thai shippers offered so-called RSS-3 grade rubber for January shipment at $2.7 a kilogram today, down from $2.8 a week earlier, he added.
Rubber climbed to a 14-month high of 264.7 yen on Dec. 7 on speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand. Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 0.9 percent to 21,700 yuan ($3,178) a ton at 2:47 p.m. local time.
Friday, December 11, 2009
Sales put pressure on spot rubber
Sales put pressure on spot rubber
Kottayam: Spot rubber prices declined on Thursday. According to observers, selling by dealers and growers kept the market under pressure during the day.
Sheet rubber weakened further to Rs 130 from Rs. 132 a kg following the sharp losses in international futures. The market made all-round declines and there were no enquiries from major consuming industries.
Futures improve
RSS 4 improved with December futures rising to Rs.131.50 (130.60), January to Rs 132.40 (131.82), February to Rs.133.41 (133.05) and March to Rs.135.28 (135.02) a kg on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 fell sharply to ¥234.4 (¥242.7) (Rs.123.78), January to ¥236.0 (¥242.8), February to ¥236.3 (¥244.9) and March to ¥237.5 (¥246.1) a kg during the day session on Tokyo Commodity Exchange. (BL)
http://www.thehindubusinessline.com/2009/12/11/stories/2009121152971600.htm
Kottayam: Spot rubber prices declined on Thursday. According to observers, selling by dealers and growers kept the market under pressure during the day.
Sheet rubber weakened further to Rs 130 from Rs. 132 a kg following the sharp losses in international futures. The market made all-round declines and there were no enquiries from major consuming industries.
Futures improve
RSS 4 improved with December futures rising to Rs.131.50 (130.60), January to Rs 132.40 (131.82), February to Rs.133.41 (133.05) and March to Rs.135.28 (135.02) a kg on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 fell sharply to ¥234.4 (¥242.7) (Rs.123.78), January to ¥236.0 (¥242.8), February to ¥236.3 (¥244.9) and March to ¥237.5 (¥246.1) a kg during the day session on Tokyo Commodity Exchange. (BL)
http://www.thehindubusinessline.com/2009/12/11/stories/2009121152971600.htm
Rubber Gains for First Day in Five as Weaker Yen Raises Appeal
Rubber Gains for First Day in Five as Weaker Yen Raises Appeal
Dec. 11 (Bloomberg) -- Rubber increased for the first time this week as a drop in Japan’s currency raised the appeal of yen-denominated contracts and gains in equity markets boosted speculation an economic recovery will raise raw material demand.
Futures in Tokyo gained as much as 1.3 percent, reversing yesterday’s 3.6 percent slump. The yen dropped as signs the global economy is improving spurred demand for higher-yielding assets. Asian stocks advanced as a drop in U.S. joblessness claims and the country’s narrower-than-estimated trade deficit boosted confidence that an economic expansion is gathering pace.
“Rubber futures drew support from the currency market,” Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo, said today by phone. “A recovery in equities markets also increased the risk appetite of investors, leading to purchases of commodities.”
Rubber for May delivery, the most-active contract, gained as much as 3.2 yen to 247 yen per kilogram ($2,789 a metric ton) before trading at 246.5 yen on the Tokyo Commodity Exchange at 11:44 a.m. local time.
The Japanese currency dropped against all of its 16 major counterparts before reports today forecast to show U.S. retail sales advanced for a second month and confidence among American consumers rebounded.
The MSCI Asia Pacific Index rose 0.5 percent to 119.77 as of 11:46 a.m. in Tokyo. A Labor Department report showed yesterday the four-week average number of Americans filing for joblessness benefits declined to a one-year low.
Thai Output
Rubber futures have lost 6.1 percent this week, poised for the worst performance since August, as output increased in top producer Thailand after rain subsided.
“In producing areas in Thailand it did not rain this week as much as before,” Shigemoto said. “Production is picking up and supply will increase.”
Rubber futures climbed to a 14-month high of 264.7 yen on Dec. 7 amid speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand.
Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 0.6 percent to 21,630 yuan ($3,168) a ton at 10:52 a.m. local time.
Dec. 11 (Bloomberg) -- Rubber increased for the first time this week as a drop in Japan’s currency raised the appeal of yen-denominated contracts and gains in equity markets boosted speculation an economic recovery will raise raw material demand.
Futures in Tokyo gained as much as 1.3 percent, reversing yesterday’s 3.6 percent slump. The yen dropped as signs the global economy is improving spurred demand for higher-yielding assets. Asian stocks advanced as a drop in U.S. joblessness claims and the country’s narrower-than-estimated trade deficit boosted confidence that an economic expansion is gathering pace.
“Rubber futures drew support from the currency market,” Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo, said today by phone. “A recovery in equities markets also increased the risk appetite of investors, leading to purchases of commodities.”
Rubber for May delivery, the most-active contract, gained as much as 3.2 yen to 247 yen per kilogram ($2,789 a metric ton) before trading at 246.5 yen on the Tokyo Commodity Exchange at 11:44 a.m. local time.
The Japanese currency dropped against all of its 16 major counterparts before reports today forecast to show U.S. retail sales advanced for a second month and confidence among American consumers rebounded.
The MSCI Asia Pacific Index rose 0.5 percent to 119.77 as of 11:46 a.m. in Tokyo. A Labor Department report showed yesterday the four-week average number of Americans filing for joblessness benefits declined to a one-year low.
Thai Output
Rubber futures have lost 6.1 percent this week, poised for the worst performance since August, as output increased in top producer Thailand after rain subsided.
“In producing areas in Thailand it did not rain this week as much as before,” Shigemoto said. “Production is picking up and supply will increase.”
Rubber futures climbed to a 14-month high of 264.7 yen on Dec. 7 amid speculation that heavy rain would slash Thai output, leading to a shortage in the global market as China, the largest consumer, leads a recovery in demand.
Flooding hit four provinces in southern Thailand in late November. The situation is back to normal, according to the Royal Irrigation Department.
Rubber plantations in the four Thai provinces affected by flooding account for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange added 0.6 percent to 21,630 yuan ($3,168) a ton at 10:52 a.m. local time.
Thursday, December 10, 2009
Spot rubber prices turn weak
Spot rubber prices turn weak
Kottayam: Spot rubber prices turned weak on Wedensday. The market fell following the sharp declines in the domestic and international rubber futures.
Sheet rubber moved slid from Rs 132 from Rs 134 a kg, mainly on selling from dealers at higher levels. “We expect the growers to join the queue as the corrective phase is expected to continue for a few more sessions,” an observer said. The market made all-round declines amidst comparatively better volumes. Futures slip
The December futures dropped to Rs 130.60 (132.69), January to Rs.131.85 (133.86), February to Rs.133.00 (135.52) and March to Rs.135.35 (137.21) a for RSS 4 on the Nationnal Multi Commodity Exchange (NMCE).RSS 3 declined with the December futures slipping to ¥242.7 (¥249.5) (Rs.128.39), January to ¥242.8 (¥250.3), February to ¥244.9 (¥252.2) and March to ¥246.1 (253.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 moved down to Rs. 129.82 (130.92) a kg on Singapore Commodity Exchange. It closed weak at Rs 130.40 (Rs 131.35) a kg in Bangkok.Spot rates (Rs/kg) were:RSS-4:132 (134), RSS-5:127.0(130), Ungraded:123 (127), ISNR 20:129 (130) and Latex 60%: 80(82). (BL)
http://www.thehindubusinessline.com/2009/12/10/stories/2009121052851600.htm
Expensive rubber to push tyre prices up by 5%
Kochi: Apollo has proposed 5-10% rise while JK Tyres may raise prices by 3-5%. Due to a steep rise in raw material prices, especially that of natural rubber, tyre prices are likely to increase 5 per cent by the end of this year or early next year.
All major tyre firms have either hiked prices or are in the process of doing so. The new prices will come into effect soon. Apollo has proposed a 5-10 per cent hike while JK Tyres may raise prices by 3-5 per cent.
This will impact automobile firms, which are at present negotiating the price hike with the tyre companies. The robust growth in automobile sales, including passenger cars, in November does not enthuse the tyre industry as it has been reeling under high raw material prices for the last seven-eight months.
Natural rubber prices have increased 105 per cent in a year. The tyre industry has decided to pass on the additional burden to end users.
Sathish Sharma, chief of manufacturing and marketing at Apollo Tyres said the company would increase prices by 5-10 per cent and the new price list would come by the third week of this month. “We have had discussions and asked automobile makers for a price increase of 10-20 per cent. A decision is likely to be taken in a week’s time,” he added. (BS)
http://www.business-standard.com/india/news/expensive-rubber-to-push-tyre-pricesby-5/379051/
Kottayam: Spot rubber prices turned weak on Wedensday. The market fell following the sharp declines in the domestic and international rubber futures.
Sheet rubber moved slid from Rs 132 from Rs 134 a kg, mainly on selling from dealers at higher levels. “We expect the growers to join the queue as the corrective phase is expected to continue for a few more sessions,” an observer said. The market made all-round declines amidst comparatively better volumes. Futures slip
The December futures dropped to Rs 130.60 (132.69), January to Rs.131.85 (133.86), February to Rs.133.00 (135.52) and March to Rs.135.35 (137.21) a for RSS 4 on the Nationnal Multi Commodity Exchange (NMCE).RSS 3 declined with the December futures slipping to ¥242.7 (¥249.5) (Rs.128.39), January to ¥242.8 (¥250.3), February to ¥244.9 (¥252.2) and March to ¥246.1 (253.8) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 moved down to Rs. 129.82 (130.92) a kg on Singapore Commodity Exchange. It closed weak at Rs 130.40 (Rs 131.35) a kg in Bangkok.Spot rates (Rs/kg) were:RSS-4:132 (134), RSS-5:127.0(130), Ungraded:123 (127), ISNR 20:129 (130) and Latex 60%: 80(82). (BL)
http://www.thehindubusinessline.com/2009/12/10/stories/2009121052851600.htm
Expensive rubber to push tyre prices up by 5%
Kochi: Apollo has proposed 5-10% rise while JK Tyres may raise prices by 3-5%. Due to a steep rise in raw material prices, especially that of natural rubber, tyre prices are likely to increase 5 per cent by the end of this year or early next year.
All major tyre firms have either hiked prices or are in the process of doing so. The new prices will come into effect soon. Apollo has proposed a 5-10 per cent hike while JK Tyres may raise prices by 3-5 per cent.
This will impact automobile firms, which are at present negotiating the price hike with the tyre companies. The robust growth in automobile sales, including passenger cars, in November does not enthuse the tyre industry as it has been reeling under high raw material prices for the last seven-eight months.
Natural rubber prices have increased 105 per cent in a year. The tyre industry has decided to pass on the additional burden to end users.
Sathish Sharma, chief of manufacturing and marketing at Apollo Tyres said the company would increase prices by 5-10 per cent and the new price list would come by the third week of this month. “We have had discussions and asked automobile makers for a price increase of 10-20 per cent. A decision is likely to be taken in a week’s time,” he added. (BS)
http://www.business-standard.com/india/news/expensive-rubber-to-push-tyre-pricesby-5/379051/
Wednesday, December 9, 2009
Mixed trend in spot rubber
Mixed trend in spot rubber
Kottayam:Spot rubber witnessed a mixed trend on Tuesday. Though the domestic rubber futures finished in red, sheet rubber improved to Rs 134 from Rs 133 as traders continued to remain active on the grade.
RSS 5 and ungraded rubber lost ground on buyer resistance but ISNR 20 and latex 60% finished flat amidst scattered transactions. There were no fresh enquiries from the tyre sector, sources said.
Futures slip
RSS 4 weakened with the December futures slipping to Rs.132.90 (133.05), January to Rs 134 (134.37) and March to Rs.137.49 (137.76) a kg on National Multi Commodity Exchange .
The December futures for RSS 3 slipped to ¥249.5 (¥249.8) (Rs.131.50), January to ¥250.3 (¥252.5) , February to ¥252.2 (¥253.8) and March to ¥253.8 (¥255) a kg during the day session on Tokyo Commodity Exchange.(BL)
http://www.thehindubusinessline.com/2009/12/09/stories/2009120952641600.htm
Kottayam:Spot rubber witnessed a mixed trend on Tuesday. Though the domestic rubber futures finished in red, sheet rubber improved to Rs 134 from Rs 133 as traders continued to remain active on the grade.
RSS 5 and ungraded rubber lost ground on buyer resistance but ISNR 20 and latex 60% finished flat amidst scattered transactions. There were no fresh enquiries from the tyre sector, sources said.
Futures slip
RSS 4 weakened with the December futures slipping to Rs.132.90 (133.05), January to Rs 134 (134.37) and March to Rs.137.49 (137.76) a kg on National Multi Commodity Exchange .
The December futures for RSS 3 slipped to ¥249.5 (¥249.8) (Rs.131.50), January to ¥250.3 (¥252.5) , February to ¥252.2 (¥253.8) and March to ¥253.8 (¥255) a kg during the day session on Tokyo Commodity Exchange.(BL)
http://www.thehindubusinessline.com/2009/12/09/stories/2009120952641600.htm
Tuesday, December 8, 2009
Rubber shortfall affects tyre production
Rubber shortfall affects tyre production
Kochi: Expressing concern over the acute shortage of natural rubber, the Automotive Tyre Manufacturers Association (ATMA) has said that the acute shortage of rubber is seriously impacting the manufacturing schedules of tyre majors.
Mr Rajiv Budhraja, Director-General, ATMA, said that there has been a growing imbalance between production and consumption of natural rubber in the country since the beginning of this financial year. The industry had anticipated that with the onset of peak season in November, the situation will improve. However, it has gone from bad to worse. It is nothing short of a crisis, he said.
Production down
According to the latest Rubber Board data, rubber production dropped 6.5 per cent during April-November while the consumption increased by 3.5 per cent widening the gap between the production and consumption.
The production during the period stood at 5,38,125 tonnes and the consumption at 6,14,600 tonnes, a shortfall of 76,475 tonnes which is more than four times the gap of 18,000 tonnes during the corresponding period in the previous year. (BL)
http://www.thehindubusinessline.com/2009/12/08/stories/2009120851721600.htm
Spot rubber prices improve
Kottayam: The physical rubber market improved on Monday. The prices strengthened in the absence of sellers following the early gains on NMCE, but its late weakness failed to make any substantial impact on RSS 4.
The grade firmed up further to Rs 133 from Rs 132 a kg mainly on covering purchases.
According to market circles there were no enquiries from the tyre sector above Rs 123 a kg for sheet rubber. It is an unprecedented situation for the rubber sector as a whole, said Mr George Waly, President, Indian Rubber Dealers Federation (IRDF).
According to Rubber Board, there is a stock of 2.21 lakh tonnes of rubber and the stock being held by the growers alone comes to 1.75 lakh tonnes. But industry is facing acute shortage as a result of the poor inflow. As against Rs 59 a kg during the same period last year, the price has now shot up to Rs 135 while the international price is now ruling below at Rs 130 a kg. The peak production period has thus turned to be the hardest time quite unhealthy for the rubber sector, he added. (BL)
http://www.thehindubusinessline.com/2009/12/08/stories/2009120851621600.htm
Kochi: Expressing concern over the acute shortage of natural rubber, the Automotive Tyre Manufacturers Association (ATMA) has said that the acute shortage of rubber is seriously impacting the manufacturing schedules of tyre majors.
Mr Rajiv Budhraja, Director-General, ATMA, said that there has been a growing imbalance between production and consumption of natural rubber in the country since the beginning of this financial year. The industry had anticipated that with the onset of peak season in November, the situation will improve. However, it has gone from bad to worse. It is nothing short of a crisis, he said.
Production down
According to the latest Rubber Board data, rubber production dropped 6.5 per cent during April-November while the consumption increased by 3.5 per cent widening the gap between the production and consumption.
The production during the period stood at 5,38,125 tonnes and the consumption at 6,14,600 tonnes, a shortfall of 76,475 tonnes which is more than four times the gap of 18,000 tonnes during the corresponding period in the previous year. (BL)
http://www.thehindubusinessline.com/2009/12/08/stories/2009120851721600.htm
Spot rubber prices improve
Kottayam: The physical rubber market improved on Monday. The prices strengthened in the absence of sellers following the early gains on NMCE, but its late weakness failed to make any substantial impact on RSS 4.
The grade firmed up further to Rs 133 from Rs 132 a kg mainly on covering purchases.
According to market circles there were no enquiries from the tyre sector above Rs 123 a kg for sheet rubber. It is an unprecedented situation for the rubber sector as a whole, said Mr George Waly, President, Indian Rubber Dealers Federation (IRDF).
According to Rubber Board, there is a stock of 2.21 lakh tonnes of rubber and the stock being held by the growers alone comes to 1.75 lakh tonnes. But industry is facing acute shortage as a result of the poor inflow. As against Rs 59 a kg during the same period last year, the price has now shot up to Rs 135 while the international price is now ruling below at Rs 130 a kg. The peak production period has thus turned to be the hardest time quite unhealthy for the rubber sector, he added. (BL)
http://www.thehindubusinessline.com/2009/12/08/stories/2009120851621600.htm
Rubber Declines on Speculation Dollar Rally to Weaken Appeal
Rubber Declines on Speculation Dollar Rally to Weaken Appeal
Dec. 7 (Bloomberg) -- Rubber dropped for the first time in six days on speculation a U.S. economic recovery may boost the dollar and cut the appeal of commodities as an alternative asset.
Futures in Tokyo declined as much as 1.8 percent, reversing last week’s 8.8 percent gain, the best performance since October. An unexpected fall in U.S. unemployment boosted the dollar and sent gold slumping on speculation that an improving U.S. economy will result in higher interest rates. Japan’s currency posted its biggest weekly loss in a decade last week, retreating from a 14-year high against the dollar.
“Improvement in U.S. employment makes an exit from the zero-interest rate policy more likely,” Kazuhiko Saito, chief analyst at commodity broker Fujitomi Co. in Tokyo, said today by telephone. “That would raise the appeal of the dollar and reduce investor demand for commodities.”
Rubber for May delivery, the most-active contract, fell as much as 4.6 yen to 257.9 yen per kilogram ($2,867 a metric ton) before settling at 261.3 yen on the Tokyo Commodity Exchange.
The dollar advanced after data on Dec. 4 showed employers in the U.S. cut the fewest jobs in November since the recession began. Payrolls dropped by 11,000, and the jobless rate declined to 10 percent, according to the U.S. Labor Department.
The yen had its biggest weekly decline in a decade, sinking 4.5 percent against the dollar for the week ended Dec. 4. The Japanese currency, which reached a 14-year high of 84.83 per dollar on Nov. 27, traded at 89.95 at 3:42 p.m. in Tokyo.
Car Sales
Losses in rubber futures were limited by speculation that rising car sales in China, the largest consumer, may help boost raw material demand, Saito said.
Sales of domestically made vehicles in China in the first 11 months of the year rose to more than 12 million units, the official Xinhua news agency said, citing figures from the China Association of Automobile Manufacturers. Sales for the year are expected to exceed 13 million, Xinhua said, making China the world’s biggest auto market.
“Rubber is supported by expectation that car tire sales in China will keep growing,” Saito said.
China’s top leaders pledged to maintain a “moderately” loose monetary policy stance and “proactive” fiscal policies next year to bolster growth in the world’s third-largest economy.
Rubber for March delivery on the Shanghai Futures Exchange lost 0.8 percent to 22,265 yuan ($3,261) per ton at 2:51 p.m. local time.
Dec. 7 (Bloomberg) -- Rubber dropped for the first time in six days on speculation a U.S. economic recovery may boost the dollar and cut the appeal of commodities as an alternative asset.
Futures in Tokyo declined as much as 1.8 percent, reversing last week’s 8.8 percent gain, the best performance since October. An unexpected fall in U.S. unemployment boosted the dollar and sent gold slumping on speculation that an improving U.S. economy will result in higher interest rates. Japan’s currency posted its biggest weekly loss in a decade last week, retreating from a 14-year high against the dollar.
“Improvement in U.S. employment makes an exit from the zero-interest rate policy more likely,” Kazuhiko Saito, chief analyst at commodity broker Fujitomi Co. in Tokyo, said today by telephone. “That would raise the appeal of the dollar and reduce investor demand for commodities.”
Rubber for May delivery, the most-active contract, fell as much as 4.6 yen to 257.9 yen per kilogram ($2,867 a metric ton) before settling at 261.3 yen on the Tokyo Commodity Exchange.
The dollar advanced after data on Dec. 4 showed employers in the U.S. cut the fewest jobs in November since the recession began. Payrolls dropped by 11,000, and the jobless rate declined to 10 percent, according to the U.S. Labor Department.
The yen had its biggest weekly decline in a decade, sinking 4.5 percent against the dollar for the week ended Dec. 4. The Japanese currency, which reached a 14-year high of 84.83 per dollar on Nov. 27, traded at 89.95 at 3:42 p.m. in Tokyo.
Car Sales
Losses in rubber futures were limited by speculation that rising car sales in China, the largest consumer, may help boost raw material demand, Saito said.
Sales of domestically made vehicles in China in the first 11 months of the year rose to more than 12 million units, the official Xinhua news agency said, citing figures from the China Association of Automobile Manufacturers. Sales for the year are expected to exceed 13 million, Xinhua said, making China the world’s biggest auto market.
“Rubber is supported by expectation that car tire sales in China will keep growing,” Saito said.
China’s top leaders pledged to maintain a “moderately” loose monetary policy stance and “proactive” fiscal policies next year to bolster growth in the world’s third-largest economy.
Rubber for March delivery on the Shanghai Futures Exchange lost 0.8 percent to 22,265 yuan ($3,261) per ton at 2:51 p.m. local time.
Monday, December 7, 2009
Rubber Posts Best Weekly Gain Since October as Output Drops
Rubber Posts Best Weekly Gain Since October as Output Drops
Dec. 4 (Bloomberg) -- Rubber advanced for a fifth day and posted the largest weekly gain since October as shippers in Thailand, the world’s largest producer and exporter, boosted prices after rain curbed production.
Futures in Tokyo gained 8.8 percent this week, the best performance since the week ended Oct. 23. Thai exporters increased prices of so-called RSS-3 grade rubber for January shipment to $2.80 a kilogram today from $2.70 on Dec. 1, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Rain continued to hinder tapping in major producing areas in Thailand, leading to an increase in the raw material prices,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, rose as much as 1.2 percent to 263.8 yen per kilogram ($2,993 a metric ton), the highest since September 2008, before closing at 262.5 yen on the Tokyo Commodity Exchange.
Natural rubber output in Thailand may drop 6.5 percent from a year earlier to 2.9 million tons this year as rainfall disrupted plantation work and hurt the raw material quality, Shigemoto said. Prapas Euanontat, secretary-general for the Thai Rubber Association, forecast Nov. 17 that output will drop to as low as 2.7 million tons from 3.1 million tons last year.
The decline comes as demand for rubber is recovering on increased car sales in the U.S., Japan and China, stoking speculation production may fall short of demand, Shigemoto said.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Economic Recovery
Gains in rubber futures were limited after an unexpected contraction in American service industries raised concern the economic recovery may be faltering.
Asian stocks declined after the Institute for Supply Management in the U.S. said yesterday its gauge of non- manufacturing businesses dropped to 48.7 last month, below economists’ estimates and the reading of 50 that indicates growth.
Gains in rubber futures were also curbed as oil declined for a third day, reducing the appeal of the commodity as an alternative to synthetic rubber. Crude oil dropped below $76 a barrel and is poised for a weekly decline.
Rubber for March delivery on the Shanghai Futures Exchange added 0.8 percent to settle at 22,445 yuan ($3,287) per ton.
Dec. 4 (Bloomberg) -- Rubber advanced for a fifth day and posted the largest weekly gain since October as shippers in Thailand, the world’s largest producer and exporter, boosted prices after rain curbed production.
Futures in Tokyo gained 8.8 percent this week, the best performance since the week ended Oct. 23. Thai exporters increased prices of so-called RSS-3 grade rubber for January shipment to $2.80 a kilogram today from $2.70 on Dec. 1, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Rain continued to hinder tapping in major producing areas in Thailand, leading to an increase in the raw material prices,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, rose as much as 1.2 percent to 263.8 yen per kilogram ($2,993 a metric ton), the highest since September 2008, before closing at 262.5 yen on the Tokyo Commodity Exchange.
Natural rubber output in Thailand may drop 6.5 percent from a year earlier to 2.9 million tons this year as rainfall disrupted plantation work and hurt the raw material quality, Shigemoto said. Prapas Euanontat, secretary-general for the Thai Rubber Association, forecast Nov. 17 that output will drop to as low as 2.7 million tons from 3.1 million tons last year.
The decline comes as demand for rubber is recovering on increased car sales in the U.S., Japan and China, stoking speculation production may fall short of demand, Shigemoto said.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Economic Recovery
Gains in rubber futures were limited after an unexpected contraction in American service industries raised concern the economic recovery may be faltering.
Asian stocks declined after the Institute for Supply Management in the U.S. said yesterday its gauge of non- manufacturing businesses dropped to 48.7 last month, below economists’ estimates and the reading of 50 that indicates growth.
Gains in rubber futures were also curbed as oil declined for a third day, reducing the appeal of the commodity as an alternative to synthetic rubber. Crude oil dropped below $76 a barrel and is poised for a weekly decline.
Rubber for March delivery on the Shanghai Futures Exchange added 0.8 percent to settle at 22,445 yuan ($3,287) per ton.
Saturday, December 5, 2009
Sheet rubber improves further
Sheet rubber improves further
Kottayam: Physical rubber prices flared up on Friday. According to observers, major manufacturers continued to sideline the market but the prices moved up as covering groups remained active buyers in the main marketing centres.
Sheet rubber improved further to Rs 131 from Rs 129.25 a kg, led mainly by the domestic and international rubber futures. “Demand for rubber is high in the domestic market now. Consumption is higher than the production,'' according to Prof. Mr K.K Abraham, President of Indian Block Rubber Processors Association. “Consumer has no role in deciding the price trends. It mainly depends on the growers and speculators. Under the circumstances the current buoyancy visible in the domestic market is most likely to continue in the days ahead,” he said.
Futures firm
The December futures for RSS 4 firmed up further to Rs 132.35 (131.76) and January to Rs 134 (133.94) while the February futures slipped to Rs 135.90 (135.97) and March to Rs 137.98 (138.11) a kg on National Multi Commodity Exchange (NMCE). RSS 3 gained marginally with the December futures rising to ¥250 (¥249.4) (Rs 131), January to ¥252.3 (¥250), February to ¥254.2 (¥252.9) and March to ¥256.2 (¥254) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 improved to Rs 130.93 (130.48) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 131.41 (129.02) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/05/stories/2009120552251600.htm
Kottayam: Physical rubber prices flared up on Friday. According to observers, major manufacturers continued to sideline the market but the prices moved up as covering groups remained active buyers in the main marketing centres.
Sheet rubber improved further to Rs 131 from Rs 129.25 a kg, led mainly by the domestic and international rubber futures. “Demand for rubber is high in the domestic market now. Consumption is higher than the production,'' according to Prof. Mr K.K Abraham, President of Indian Block Rubber Processors Association. “Consumer has no role in deciding the price trends. It mainly depends on the growers and speculators. Under the circumstances the current buoyancy visible in the domestic market is most likely to continue in the days ahead,” he said.
Futures firm
The December futures for RSS 4 firmed up further to Rs 132.35 (131.76) and January to Rs 134 (133.94) while the February futures slipped to Rs 135.90 (135.97) and March to Rs 137.98 (138.11) a kg on National Multi Commodity Exchange (NMCE). RSS 3 gained marginally with the December futures rising to ¥250 (¥249.4) (Rs 131), January to ¥252.3 (¥250), February to ¥254.2 (¥252.9) and March to ¥256.2 (¥254) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 improved to Rs 130.93 (130.48) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 131.41 (129.02) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/05/stories/2009120552251600.htm
Friday, December 4, 2009
Spot rubber makes further gains
Spot rubber makes further gains
Kottayam: Spot rubber gained further on Thursday. According to observers, there was no selling pressure on any grade even at the closing levels and the prices firmed up on expectations that the immediate target is Rs 150 a kg for sheet rubber. The grade improved to Rs 129.25 from Rs 127.25 a kg though the volumes were unimpressive. The sentiments were also catalysed by the bullish domestic and international rubber futures.
Futures firm
RSS 4 firmed up with the December futures rising to Rs 131.84 (128.01); January to Rs 133.90 (130.09), February to Rs 135.50 (132.10) and March to Rs 137.91 (134.18) a kg on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 closed at ¥249.4 (¥244.4) (Rs 130.79), January at ¥250 (¥247), February at ¥252.9 (¥248.2) and March at ¥254 (¥250) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 downed the shutters at Rs 130.48 (128.80) a kg on Singapore Commodity Exchange (SICOM). It's spot finished at Rs 129.02 (127.56) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/04/stories/2009120452691600.htm
Global rubber output poised to dip
Kochi : Production of natural rubber in some of the major producing countries including India is likely to be hit in the coming months mainly due to climate change. This could worsen the global deficit that already recorded a 5.1 per cent fall during the 12 months ending October 2009.
Climate change
While acknowledging that climate change had accounted for a small dip in production, Mr N. Radhakrishnan, former President of Cochin Rubber Merchants Association, said that the Indian production was more vulnerable to shortage of skilled personnel to tap the rubber trees and low-yields from old trees that had outgrown their peak production period and needed to be re-planted.
Even as small holders would be able to tide over the shortage through in-house labour, and the large planters could stave off the crisis with their captive labour in their plantations, it was the middle level farmer with 5-25 acres who would be most impacted. While the coming months are seen as the most productive period for rubber plantations, things could be different this year, he added. (BL)
http://www.thehindubusinessline.com/2009/12/04/stories/2009120452601600.htm
Natural rubber prices double in a year
Kochi: The natural rubber (NR) prices have almost doubled in a year. The benchmark grade RSS-4 variety was quoted at Rs 128 a kg on Thursday compared with Rs 65 a kg on same day last year.
The rubber market is now poised to break all records despite good production this season. The local market follows its global peers resulting in a sharp increase in the prices in the futures trading.
The local market quoted Rs 76.5 a kg for RSS-4 on December 3, 2006 and Rs 92 a kg on the same day in 2007. Thursday’s price is one of the highest prices quoted; the highest price quoted was Rs 142 a kg on August 30, 2008.
A section of traders believe that the market may breach this record because of the rising demand, especially from the tyre manufacturing sector. This price rise in abnormal as the supply had improved in November.
According to Rubber Board estimates, production in November increased to 103,000 tonnes compared with 95,550 tonnes in the same month last year. Production is expected to be at its peak in this month due to the winter season and supply is expected to improve further. The board estimates also revealed that the total stock in the country increased to 247,000 tonnes. This is due to the sharp increase in imports and a drop in exports during April-November.
Experts said a strong appreciation in prices in all major global markets would make the domestic market bullish. Heavy rainfall and floods had affected production in Thailand and Indonesia, hence global prices were on a rise. Also, aggressive buying by China made the market a seller’s paradise, they said. (BS)
http://www.business-standard.com/india/news/natural-rubber-prices-double-inyear/378476/
Natural rubber production is on the upswing
KOCHI: The country's natural rubber production is on the upswing. The production has registered a marginal increase in November 2009 as compared to the same period last year as per provisional estimates.
Higher production in November has improved the overall rubber production trends in the country. The cumulative production for the period April to November has seen a 6.5% fall. For the April to October period the decline in rubber output was around 9%.
The improvement in production in the second half of the fiscal year was expected as October to January is the peak production season. Though the recent forecast by the Association of Natural Rubber Producing Countries (ANRPC) had indicated a fall in production in the country in November due to untimely rains, the provisional figures do not show such a fall. (ET)
http://economictimes.indiatimes.com/news/economy/agriculture/Natural-rubber-production-is-on-the-upswing/articleshow/5297023.cms
Kottayam: Spot rubber gained further on Thursday. According to observers, there was no selling pressure on any grade even at the closing levels and the prices firmed up on expectations that the immediate target is Rs 150 a kg for sheet rubber. The grade improved to Rs 129.25 from Rs 127.25 a kg though the volumes were unimpressive. The sentiments were also catalysed by the bullish domestic and international rubber futures.
Futures firm
RSS 4 firmed up with the December futures rising to Rs 131.84 (128.01); January to Rs 133.90 (130.09), February to Rs 135.50 (132.10) and March to Rs 137.91 (134.18) a kg on National Multi Commodity Exchange (NMCE). The December futures for RSS 3 closed at ¥249.4 (¥244.4) (Rs 130.79), January at ¥250 (¥247), February at ¥252.9 (¥248.2) and March at ¥254 (¥250) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 downed the shutters at Rs 130.48 (128.80) a kg on Singapore Commodity Exchange (SICOM). It's spot finished at Rs 129.02 (127.56) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/04/stories/2009120452691600.htm
Global rubber output poised to dip
Kochi : Production of natural rubber in some of the major producing countries including India is likely to be hit in the coming months mainly due to climate change. This could worsen the global deficit that already recorded a 5.1 per cent fall during the 12 months ending October 2009.
Climate change
While acknowledging that climate change had accounted for a small dip in production, Mr N. Radhakrishnan, former President of Cochin Rubber Merchants Association, said that the Indian production was more vulnerable to shortage of skilled personnel to tap the rubber trees and low-yields from old trees that had outgrown their peak production period and needed to be re-planted.
Even as small holders would be able to tide over the shortage through in-house labour, and the large planters could stave off the crisis with their captive labour in their plantations, it was the middle level farmer with 5-25 acres who would be most impacted. While the coming months are seen as the most productive period for rubber plantations, things could be different this year, he added. (BL)
http://www.thehindubusinessline.com/2009/12/04/stories/2009120452601600.htm
Natural rubber prices double in a year
Kochi: The natural rubber (NR) prices have almost doubled in a year. The benchmark grade RSS-4 variety was quoted at Rs 128 a kg on Thursday compared with Rs 65 a kg on same day last year.
The rubber market is now poised to break all records despite good production this season. The local market follows its global peers resulting in a sharp increase in the prices in the futures trading.
The local market quoted Rs 76.5 a kg for RSS-4 on December 3, 2006 and Rs 92 a kg on the same day in 2007. Thursday’s price is one of the highest prices quoted; the highest price quoted was Rs 142 a kg on August 30, 2008.
A section of traders believe that the market may breach this record because of the rising demand, especially from the tyre manufacturing sector. This price rise in abnormal as the supply had improved in November.
According to Rubber Board estimates, production in November increased to 103,000 tonnes compared with 95,550 tonnes in the same month last year. Production is expected to be at its peak in this month due to the winter season and supply is expected to improve further. The board estimates also revealed that the total stock in the country increased to 247,000 tonnes. This is due to the sharp increase in imports and a drop in exports during April-November.
Experts said a strong appreciation in prices in all major global markets would make the domestic market bullish. Heavy rainfall and floods had affected production in Thailand and Indonesia, hence global prices were on a rise. Also, aggressive buying by China made the market a seller’s paradise, they said. (BS)
http://www.business-standard.com/india/news/natural-rubber-prices-double-inyear/378476/
Natural rubber production is on the upswing
KOCHI: The country's natural rubber production is on the upswing. The production has registered a marginal increase in November 2009 as compared to the same period last year as per provisional estimates.
Higher production in November has improved the overall rubber production trends in the country. The cumulative production for the period April to November has seen a 6.5% fall. For the April to October period the decline in rubber output was around 9%.
The improvement in production in the second half of the fiscal year was expected as October to January is the peak production season. Though the recent forecast by the Association of Natural Rubber Producing Countries (ANRPC) had indicated a fall in production in the country in November due to untimely rains, the provisional figures do not show such a fall. (ET)
http://economictimes.indiatimes.com/news/economy/agriculture/Natural-rubber-production-is-on-the-upswing/articleshow/5297023.cms
Rubber Set for Best Weekly Gain Since October as Output Drops
Rubber Set for Best Weekly Gain Since October as Output Drops
Dec. 4 (Bloomberg) -- Rubber advanced for a fifth day and headed for the largest weekly gain since October as shippers in Thailand, the world’s largest producer and exporter, boosted prices after rain curbed production.
Futures in Tokyo have gained more than 8 percent this week, the best performance since the week ended Oct. 23. Thai exporters increased prices of so-called RSS-3 grade rubber for January shipment to $2.80 a kilogram today from $2.70 on Dec. 1, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Rain continued to hinder tapping in major producing areas in Thailand, leading to an increase in the raw material prices,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, rose as much as 1.2 percent to 263.8 yen per kilogram ($2,990 a metric ton), the highest since September 2008, before trading at 262.4 yen by 11:55 a.m. on the Tokyo Commodity Exchange.
Natural rubber output in Thailand may drop 6.5 percent from a year earlier to 2.9 million tons this year as rainfall disrupted plantation work and hurt the raw material quality, Shigemoto said. Prapas Euanontat, secretary-general for the Thai Rubber Association, forecast Nov. 17 that output will drop to as low as 2.7 million tons from 3.1 million tons last year.
The decline comes as demand for rubber is recovering on increased car sales in the U.S., Japan and China, stoking speculation production may fall short of demand, Shigemoto said.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Economic Recovery
Gains in rubber futures were limited after an unexpected contraction in American service industries raised concern the economic recovery may be faltering.
Asian stocks declined after the Institute for Supply Management in the U.S. said yesterday its gauge of non- manufacturing businesses dropped to 48.7 last month, below economists’ estimates and the reading of 50 that indicates growth.
Gains in rubber futures were also curbed as oil declined for a third day, reducing the appeal of the commodity as an alternative to synthetic rubber. Crude oil dropped below $76 a barrel and is poised for a weekly decline.
Rubber for March delivery on the Shanghai Futures Exchange added 0.7 percent to 22,420 yuan ($3,284) a ton at 10:12 a.m. local time.
Dec. 4 (Bloomberg) -- Rubber advanced for a fifth day and headed for the largest weekly gain since October as shippers in Thailand, the world’s largest producer and exporter, boosted prices after rain curbed production.
Futures in Tokyo have gained more than 8 percent this week, the best performance since the week ended Oct. 23. Thai exporters increased prices of so-called RSS-3 grade rubber for January shipment to $2.80 a kilogram today from $2.70 on Dec. 1, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Rain continued to hinder tapping in major producing areas in Thailand, leading to an increase in the raw material prices,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, rose as much as 1.2 percent to 263.8 yen per kilogram ($2,990 a metric ton), the highest since September 2008, before trading at 262.4 yen by 11:55 a.m. on the Tokyo Commodity Exchange.
Natural rubber output in Thailand may drop 6.5 percent from a year earlier to 2.9 million tons this year as rainfall disrupted plantation work and hurt the raw material quality, Shigemoto said. Prapas Euanontat, secretary-general for the Thai Rubber Association, forecast Nov. 17 that output will drop to as low as 2.7 million tons from 3.1 million tons last year.
The decline comes as demand for rubber is recovering on increased car sales in the U.S., Japan and China, stoking speculation production may fall short of demand, Shigemoto said.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Economic Recovery
Gains in rubber futures were limited after an unexpected contraction in American service industries raised concern the economic recovery may be faltering.
Asian stocks declined after the Institute for Supply Management in the U.S. said yesterday its gauge of non- manufacturing businesses dropped to 48.7 last month, below economists’ estimates and the reading of 50 that indicates growth.
Gains in rubber futures were also curbed as oil declined for a third day, reducing the appeal of the commodity as an alternative to synthetic rubber. Crude oil dropped below $76 a barrel and is poised for a weekly decline.
Rubber for March delivery on the Shanghai Futures Exchange added 0.7 percent to 22,420 yuan ($3,284) a ton at 10:12 a.m. local time.
Thursday, December 3, 2009
Spot rubber flares up on lack of sellers
Spot rubber flares up on lack of sellers
Kottayam: Spot rubber flared up on Wednesday. The extremely bullish sentiments were catalysed mainly by the gains in the domestic and international rubber futures amidst short supply. Sheet rubber moved up sharply to Rs 127.25 from Rs 123 a kg as covering groups remained aggressive on the grade. There were no sellers in the market even above the quoted level as the next target was projected at Rs 150 a kg for RSS 4. The transactions were in a low key.
Futures firm
The December futures for RSS 4 firmed up to Rs 128.18 (127.05), January to Rs 130.15 (129.24), February to Rs 132.20 (131.20) and March to Rs 134 (133.12) a kg on National Multi Commodity Exchange (NMCE).
RSS 3 improved with the December futures increasing to ¥244.4 (¥238.5) (Rs 129.86), January to ¥247 (¥240.3), February to ¥248.2 (¥241.4) and March to ¥250 (¥243.3) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 moved up to Rs 128.80 (126.77) a kg on Singapore Commodity Exchange (SICOM). It closed better at Rs 127.56 (126.93) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/03/stories/2009120351761600.htm
Rubber production up 7% in November
Kochi : Setting the tone for the peak production season in India, rubber output increased by over seven per cent in November. The months of November-December-January are the peak rubber-producing season in peninsular India. However, the cumulative production for the first eight months of the current fiscal was negative, down 6.5 per cent over last year.
The increase in November contradicts the prognosis of the Association of Natural Rubber Producing Countries (ANRPC) that had predicted that production would fall, given the unseasonal nature of the rains that lashed the rubber producing regions of the country during the first week of the month. However, neither the monthly increase in production nor the smaller gap between production and consumption is expected to bring down rubber prices, Mr N. Radhakrishnan, former President of the Cochin Rubber Merchants Association said. With the global demand-supply mismatch likely to widen in the coming months, the prices are likely to rule firm.
Production for the first eight months was down to 5.38 lakh tonnes (5.76 lakh tonnes), while consumption increased 3.5 per cent to 6.15 lakh tonnes (5.94 lakh tonnes). Despite the mismatch, the stocks available in the country was up at 2.47 lakh tonnes (1.75 lakh tonnes). (BL)
http://www.thehindubusinessline.com/2009/12/03/stories/2009120351741600.htm
Kottayam: Spot rubber flared up on Wednesday. The extremely bullish sentiments were catalysed mainly by the gains in the domestic and international rubber futures amidst short supply. Sheet rubber moved up sharply to Rs 127.25 from Rs 123 a kg as covering groups remained aggressive on the grade. There were no sellers in the market even above the quoted level as the next target was projected at Rs 150 a kg for RSS 4. The transactions were in a low key.
Futures firm
The December futures for RSS 4 firmed up to Rs 128.18 (127.05), January to Rs 130.15 (129.24), February to Rs 132.20 (131.20) and March to Rs 134 (133.12) a kg on National Multi Commodity Exchange (NMCE).
RSS 3 improved with the December futures increasing to ¥244.4 (¥238.5) (Rs 129.86), January to ¥247 (¥240.3), February to ¥248.2 (¥241.4) and March to ¥250 (¥243.3) a kg during the day session on Tokyo Commodity Exchange (TOCOM). RSS 3 moved up to Rs 128.80 (126.77) a kg on Singapore Commodity Exchange (SICOM). It closed better at Rs 127.56 (126.93) a kg at Bangkok. (BL)
http://www.thehindubusinessline.com/2009/12/03/stories/2009120351761600.htm
Rubber production up 7% in November
Kochi : Setting the tone for the peak production season in India, rubber output increased by over seven per cent in November. The months of November-December-January are the peak rubber-producing season in peninsular India. However, the cumulative production for the first eight months of the current fiscal was negative, down 6.5 per cent over last year.
The increase in November contradicts the prognosis of the Association of Natural Rubber Producing Countries (ANRPC) that had predicted that production would fall, given the unseasonal nature of the rains that lashed the rubber producing regions of the country during the first week of the month. However, neither the monthly increase in production nor the smaller gap between production and consumption is expected to bring down rubber prices, Mr N. Radhakrishnan, former President of the Cochin Rubber Merchants Association said. With the global demand-supply mismatch likely to widen in the coming months, the prices are likely to rule firm.
Production for the first eight months was down to 5.38 lakh tonnes (5.76 lakh tonnes), while consumption increased 3.5 per cent to 6.15 lakh tonnes (5.94 lakh tonnes). Despite the mismatch, the stocks available in the country was up at 2.47 lakh tonnes (1.75 lakh tonnes). (BL)
http://www.thehindubusinessline.com/2009/12/03/stories/2009120351741600.htm
Rubber Reaches 14-Month High as Yen Drops, Demand May Increase
Rubber Reaches 14-Month High as Yen Drops, Demand May Increase
Dec. 3 (Bloomberg) -- Rubber advanced to a 14-month high for a second day as a drop in the Japanese currency against the dollar raised the appeal of yen-denominated contracts and on speculation an economic recovery will boost raw material demand.
Futures in Tokyo gained as much as 1.6 percent to the highest level since Oct. 2, 2008, extending yesterday’s 2.5 percent rally. The yen weakened as signs the global economy is recovering damped demand for the relative safety of Japan’s currency. Asian stocks rose after the Federal Reserve said the U.S. economy improved.
“Investors increased purchases of risk assets on optimism global economies will keep recovering,” Hisaaki Tasaka, an analyst at commodity broker ACE Koeki Co. in Tokyo, said today by phone. “The yen’s drop was also positive to the prices of futures in Tokyo.”
Rubber for May delivery, the most-active contract, rose as much as 4.1 yen to 259.7 yen per kilogram ($2,957 a metric ton) on the Tokyo Commodity Exchange before trading at 259.6 yen at 11:22 a.m. local time.
The yen weakened against all of its 16 major counterparts before reports today that economists said will show the decline in European retail sales slowed and U.S. service industries expanded. The world’s biggest economy expanded or improved “modestly” across the U.S. from October to mid-November as consumer spending rose in a majority of Federal Reserve districts, the central bank said yesterday in its Beige Book.
The yen lost 0.6 percent to 87.87 per dollar at 10:58 a.m. in Tokyo. Japan’s currency strengthened to 84.83 on Nov. 27, the highest since July 1995.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Rubber futures also increased as gold advanced to a record for a third day, boosting speculation investor demand for commodities will increase, Tasaka said.
Spot gold strengthened as much as 0.8 percent to a record $1,225.04 an ounce before trading at $1,222.41 at 11:01 a.m. Tokyo time. Prices gained as investors sought protection against the prospect of currency debasement and inflation, spurring demand for the metal as an alternative asset.
Rubber for March delivery on the Shanghai Futures Exchange added 1.1 percent to 22,265 yuan ($3,261) a ton as of 10:15 a.m. local time.
Dec. 3 (Bloomberg) -- Rubber advanced to a 14-month high for a second day as a drop in the Japanese currency against the dollar raised the appeal of yen-denominated contracts and on speculation an economic recovery will boost raw material demand.
Futures in Tokyo gained as much as 1.6 percent to the highest level since Oct. 2, 2008, extending yesterday’s 2.5 percent rally. The yen weakened as signs the global economy is recovering damped demand for the relative safety of Japan’s currency. Asian stocks rose after the Federal Reserve said the U.S. economy improved.
“Investors increased purchases of risk assets on optimism global economies will keep recovering,” Hisaaki Tasaka, an analyst at commodity broker ACE Koeki Co. in Tokyo, said today by phone. “The yen’s drop was also positive to the prices of futures in Tokyo.”
Rubber for May delivery, the most-active contract, rose as much as 4.1 yen to 259.7 yen per kilogram ($2,957 a metric ton) on the Tokyo Commodity Exchange before trading at 259.6 yen at 11:22 a.m. local time.
The yen weakened against all of its 16 major counterparts before reports today that economists said will show the decline in European retail sales slowed and U.S. service industries expanded. The world’s biggest economy expanded or improved “modestly” across the U.S. from October to mid-November as consumer spending rose in a majority of Federal Reserve districts, the central bank said yesterday in its Beige Book.
The yen lost 0.6 percent to 87.87 per dollar at 10:58 a.m. in Tokyo. Japan’s currency strengthened to 84.83 on Nov. 27, the highest since July 1995.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes. Nissan’s sales rose 21 percent and Seoul- based Hyundai reported a 46 percent surge, according to data from industry researcher Autodata Corp this week.
Rubber futures also increased as gold advanced to a record for a third day, boosting speculation investor demand for commodities will increase, Tasaka said.
Spot gold strengthened as much as 0.8 percent to a record $1,225.04 an ounce before trading at $1,222.41 at 11:01 a.m. Tokyo time. Prices gained as investors sought protection against the prospect of currency debasement and inflation, spurring demand for the metal as an alternative asset.
Rubber for March delivery on the Shanghai Futures Exchange added 1.1 percent to 22,265 yuan ($3,261) a ton as of 10:15 a.m. local time.
Wednesday, December 2, 2009
Spot rubber improves on short covering
Spot rubber improves on short covering
Kottayam: Physical rubber prices continued to explore further highs on Tuesday. The bull run was initiated mainly by the gains on NMCE and according to observers, there were no quantity sellers in the market even at higher levels.
Sheet rubber improved to Rs 123 from Rs 121 a kg on fresh buying and short covering. There has been no fresh quotes from the tyre sector. It is most unlikely that the prices may flair up beyond Rs 128-130 since the uptrend in the international markets is to be arrested in a short period, according to Mr. N.Radhakrishnan, President of the Cochin Rubber Merchants Association.
Futures gain
RSS 4 flared up with the December futures rising to Rs 127.10 (123.61), January to Rs 129.38 (125.63) and February to Rs 131.30 (127.50) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved with the December futures up at ¥238.5 (¥235.7) (Rs 127.32), January at ¥240.3 (¥237) and February at ¥241.4 (¥239) a kg during the day session on Tokyo Commodity Exchange (TOCOM). . The grade moved up to Rs 126.77 (126.21) a kg on Singapore Commodity Exchange (SICOM). (BL)
http://www.thehindubusinessline.com/2009/12/02/stories/2009120251941600.htm
Kottayam: Physical rubber prices continued to explore further highs on Tuesday. The bull run was initiated mainly by the gains on NMCE and according to observers, there were no quantity sellers in the market even at higher levels.
Sheet rubber improved to Rs 123 from Rs 121 a kg on fresh buying and short covering. There has been no fresh quotes from the tyre sector. It is most unlikely that the prices may flair up beyond Rs 128-130 since the uptrend in the international markets is to be arrested in a short period, according to Mr. N.Radhakrishnan, President of the Cochin Rubber Merchants Association.
Futures gain
RSS 4 flared up with the December futures rising to Rs 127.10 (123.61), January to Rs 129.38 (125.63) and February to Rs 131.30 (127.50) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved with the December futures up at ¥238.5 (¥235.7) (Rs 127.32), January at ¥240.3 (¥237) and February at ¥241.4 (¥239) a kg during the day session on Tokyo Commodity Exchange (TOCOM). . The grade moved up to Rs 126.77 (126.21) a kg on Singapore Commodity Exchange (SICOM). (BL)
http://www.thehindubusinessline.com/2009/12/02/stories/2009120251941600.htm
Rubber Gains to 14-Month High on Demand Recovery, Output Cuts Share Business
Rubber Gains to 14-Month High on Demand Recovery, Output Cuts Share Business
Dec. 2 (Bloomberg) -- Rubber climbed to a 14-month high on speculation that demand for its use in tires will increase as the global economy recovers and as heavy rain reduces supplies from Thailand, the world’s largest producer.
Futures in Tokyo gained as much as 3.2 percent today to the highest level since Oct. 2 last year as Asian stocks rose for a third day, gold advanced to a record and auto sales rose last month. Shippers in Thailand increased natural rubber prices after rain and flooding curbed production.
“It’s not a market easy to sell as stocks rose, most commodities jumped and car sales increased,” said Hiroyuki Kikukawa, general manager of research at Tokyo-based IDO Securities Co. “Heavy Rain in Thailand has caused concern over production cuts.”
Rubber for May delivery, the most-active contract, added as much as 7.9 yen to 257.2 yen per kilogram ($2,946 a metric ton) on the Tokyo Commodity Exchange. It closed at 255.6 yen.
The MSCI Asia Pacific Index rose 0.5 percent to 120.12, set for its highest close since Oct. 21. The gauge has gained 5.5 percent in the past three days amid optimism the region’s companies will be sheltered from losses related to Dubai World, which is seeking to restructure its debt payments.
Record Gold
Spot gold climbed as much as 1.6 percent to a record $1,215.85 an ounce before trading at $1,213.98 by 3:36 p.m. Tokyo time. The London Metal Exchange Index, a measure of six industrial metals including copper and zinc, climbed 1.9 percent yesterday, its steepest increase in two weeks, and crude oil gained 1.4 percent to $78.37 a barrel, the highest settlement since Nov. 18.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes.
Nissan’s sales rose 21 percent and Seoul-based Hyundai reported a 46 percent surge, industry researcher Autodata Corp. said. Toyota Motor Corp. posted a 2.6 percent increase, higher than analysts’ estimates. The annual sales rate was 10.93 million vehicles, up from 10.41 million a year earlier, when seasonally adjusted for two fewer sales days in November 2009, according to Autodata.
The results add to evidence that a gradual economic recovery is taking hold, after the deepest recession since the Great Depression led to the bankruptcies of General Motors Corp. and Chrysler Group LLC. Sales in August were boosted by the government’s “cash for clunkers” program.
Rubber output from Thailand may fall “about 10 percent” this year as heavy rainfall disrupts production, according to the Thai Rubber Association. Output will be 2.7 million to 2.8 million tons in 2010 compared with 3.1 million tons in 2008, Prapas Euanontat, the association’s secretary-general, said Nov. 17. Yields also fell as fertilizer costs rose, curbing use, he said.
Rubber for March delivery on the Shanghai Futures Exchange gained 1.3 percent to 22,015 yuan ($3,225) a ton.
Dec. 2 (Bloomberg) -- Rubber climbed to a 14-month high on speculation that demand for its use in tires will increase as the global economy recovers and as heavy rain reduces supplies from Thailand, the world’s largest producer.
Futures in Tokyo gained as much as 3.2 percent today to the highest level since Oct. 2 last year as Asian stocks rose for a third day, gold advanced to a record and auto sales rose last month. Shippers in Thailand increased natural rubber prices after rain and flooding curbed production.
“It’s not a market easy to sell as stocks rose, most commodities jumped and car sales increased,” said Hiroyuki Kikukawa, general manager of research at Tokyo-based IDO Securities Co. “Heavy Rain in Thailand has caused concern over production cuts.”
Rubber for May delivery, the most-active contract, added as much as 7.9 yen to 257.2 yen per kilogram ($2,946 a metric ton) on the Tokyo Commodity Exchange. It closed at 255.6 yen.
The MSCI Asia Pacific Index rose 0.5 percent to 120.12, set for its highest close since Oct. 21. The gauge has gained 5.5 percent in the past three days amid optimism the region’s companies will be sheltered from losses related to Dubai World, which is seeking to restructure its debt payments.
Record Gold
Spot gold climbed as much as 1.6 percent to a record $1,215.85 an ounce before trading at $1,213.98 by 3:36 p.m. Tokyo time. The London Metal Exchange Index, a measure of six industrial metals including copper and zinc, climbed 1.9 percent yesterday, its steepest increase in two weeks, and crude oil gained 1.4 percent to $78.37 a barrel, the highest settlement since Nov. 18.
Hyundai Motor Co. and Nissan Motor Co. led the first monthly gain in U.S. auto sales without government stimulus in November, signaling buyers are returning to showrooms as the economy stabilizes.
Nissan’s sales rose 21 percent and Seoul-based Hyundai reported a 46 percent surge, industry researcher Autodata Corp. said. Toyota Motor Corp. posted a 2.6 percent increase, higher than analysts’ estimates. The annual sales rate was 10.93 million vehicles, up from 10.41 million a year earlier, when seasonally adjusted for two fewer sales days in November 2009, according to Autodata.
The results add to evidence that a gradual economic recovery is taking hold, after the deepest recession since the Great Depression led to the bankruptcies of General Motors Corp. and Chrysler Group LLC. Sales in August were boosted by the government’s “cash for clunkers” program.
Rubber output from Thailand may fall “about 10 percent” this year as heavy rainfall disrupts production, according to the Thai Rubber Association. Output will be 2.7 million to 2.8 million tons in 2010 compared with 3.1 million tons in 2008, Prapas Euanontat, the association’s secretary-general, said Nov. 17. Yields also fell as fertilizer costs rose, curbing use, he said.
Rubber for March delivery on the Shanghai Futures Exchange gained 1.3 percent to 22,015 yuan ($3,225) a ton.
Tuesday, December 1, 2009
Rubber Gains as Thai Exporters Raise Offers on Output Drop
Rubber Gains as Thai Exporters Raise Offers on Output Drop
Tokyo-- Rubber advanced as shippers in Thailand, the world’s largest producer and exporter, increased prices to foreign buyers after rain and flooding curbed production.
Futures in Tokyo may extend gains after increasing by the most in a week yesterday as Thai exporters boosted prices of so- called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone today. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=a2UoNzxIYBqY
Tokyo-- Rubber advanced as shippers in Thailand, the world’s largest producer and exporter, increased prices to foreign buyers after rain and flooding curbed production.
Futures in Tokyo may extend gains after increasing by the most in a week yesterday as Thai exporters boosted prices of so- called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone today. (Bloomberg)
http://www.bloomberg.com/apps/news?pid=20601012&sid=a2UoNzxIYBqY
Sheet rubber prices improve further
Sheet rubber prices improve further
Kottayam: Spot rubber prices improved further on Monday. In the spot, the market firmed up following a spurt in the domestic futures and international prices. There were no fresh enquiries from the tyre sector and the prices strengthened as covering groups turned aggressive on sheet rubber.
The grade closed better at Rs 121 (120) a kg while the market made all-round gains though there has been no remarkable improvement in volumes.
Futures gain
The December futures for RSS 4 moved up to Rs 123.73 (121.51), January to Rs 125.75 (123.32), February to Rs 127.65 (125.34) and March to Rs 129.49 (127.03) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved with December futures rising to ¥235.7 (¥233.3) (Rs 127.14), January to ¥237 (¥232.2), February to ¥239 (¥233.7) and March to ¥241.3 (¥236.6) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/12/01/stories/2009120151881600.htm
Kottayam: Spot rubber prices improved further on Monday. In the spot, the market firmed up following a spurt in the domestic futures and international prices. There were no fresh enquiries from the tyre sector and the prices strengthened as covering groups turned aggressive on sheet rubber.
The grade closed better at Rs 121 (120) a kg while the market made all-round gains though there has been no remarkable improvement in volumes.
Futures gain
The December futures for RSS 4 moved up to Rs 123.73 (121.51), January to Rs 125.75 (123.32), February to Rs 127.65 (125.34) and March to Rs 129.49 (127.03) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved with December futures rising to ¥235.7 (¥233.3) (Rs 127.14), January to ¥237 (¥232.2), February to ¥239 (¥233.7) and March to ¥241.3 (¥236.6) a kg during the day session on Tokyo Commodity Exchange (TOCOM). (BL)
http://www.thehindubusinessline.com/2009/12/01/stories/2009120151881600.htm
Rubber Advances as Yen Declines, Thai Exporters Boost Offers
Rubber Advances as Yen Declines, Thai Exporters Boost Offers
Dec. 1 (Bloomberg) -- Rubber advanced as a drop in Japan’s currency against the dollar raised the appeal of yen-based contracts and as shippers in Thailand increased prices after rain and flooding curbed production.
Futures in Tokyo gained as much as 1.5 percent as the yen fell the most in seven weeks against the dollar after the Bank of Japan announced an emergency policy meeting today, spurring speculation it will seek to limit the currency’s gains. Thai exporters boosted prices of so-called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone. Futures also drew support from the currency market, he added.
Rubber for May delivery, the most-active contract, added 0.9 percent to settle at 249.3 yen per kilogram ($2,873 a metric ton) on the Tokyo Commodity Exchange.
The contract advanced 2.4 percent yesterday, the largest daily gain since Nov. 19, amid speculation the impact on global markets from Dubai World’s request to delay debt payments will be limited. The company said it began “constructive” talks with banks to restructure $26 billion of debt.
Yen Weakens
Japan’s currency, which reached a 14-year high last week against the dollar, weakened versus all 16 major counterparts after Kyodo News reported the central bank will consider monetary easing steps amid pressure to halt falling consumer prices. The yen lost 1.3 percent to 87.53 per dollar before trading at 86.97 as of 3:39 p.m. Tokyo time.
The government has stepped up calls on the Bank of Japan to prop up growth since declaring the economy was in deflation on Nov. 20. BOJ Governor Masaaki Shirakawa pledged yesterday to act promptly and decisively.
Rubber futures reached the highest level in 14 months Nov. 26 amid concern supply from Thailand will drop. Rubber plantations in the four Thai provinces affected by flooding accounted for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange fell 0.1 percent to close at 21,725 yuan ($3,182) a ton.
Dec. 1 (Bloomberg) -- Rubber advanced as a drop in Japan’s currency against the dollar raised the appeal of yen-based contracts and as shippers in Thailand increased prices after rain and flooding curbed production.
Futures in Tokyo gained as much as 1.5 percent as the yen fell the most in seven weeks against the dollar after the Bank of Japan announced an emergency policy meeting today, spurring speculation it will seek to limit the currency’s gains. Thai exporters boosted prices of so-called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone. Futures also drew support from the currency market, he added.
Rubber for May delivery, the most-active contract, added 0.9 percent to settle at 249.3 yen per kilogram ($2,873 a metric ton) on the Tokyo Commodity Exchange.
The contract advanced 2.4 percent yesterday, the largest daily gain since Nov. 19, amid speculation the impact on global markets from Dubai World’s request to delay debt payments will be limited. The company said it began “constructive” talks with banks to restructure $26 billion of debt.
Yen Weakens
Japan’s currency, which reached a 14-year high last week against the dollar, weakened versus all 16 major counterparts after Kyodo News reported the central bank will consider monetary easing steps amid pressure to halt falling consumer prices. The yen lost 1.3 percent to 87.53 per dollar before trading at 86.97 as of 3:39 p.m. Tokyo time.
The government has stepped up calls on the Bank of Japan to prop up growth since declaring the economy was in deflation on Nov. 20. BOJ Governor Masaaki Shirakawa pledged yesterday to act promptly and decisively.
Rubber futures reached the highest level in 14 months Nov. 26 amid concern supply from Thailand will drop. Rubber plantations in the four Thai provinces affected by flooding accounted for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange fell 0.1 percent to close at 21,725 yuan ($3,182) a ton.
Rubber Gains as Thai Exporters Raise Offers on Output Drop
Rubber Gains as Thai Exporters Raise Offers on Output Drop
Dec. 1 (Bloomberg) -- Rubber advanced as shippers in Thailand, the world’s largest producer and exporter, increased prices to foreign buyers after rain and flooding curbed production.
Futures in Tokyo may extend gains after increasing by the most in a week yesterday as Thai exporters boosted prices of so- called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, added 0.5 percent to 248.2 yen per kilogram ($2,856 a metric ton) on the Tokyo Commodity Exchange at 11:22 a.m. local time after trading between 246.2 yen and 249.2 yen.
The contract advanced 2.4 percent yesterday, the largest daily gain since Nov. 19, amid speculation the impact on global markets from Dubai World’s request to delay debt payments will be limited. The company said it began “constructive” talks with banks to restructure $26 billion of debt.
Rubber futures also increased as the dollar declined for a second day against the euro, raising speculation that investors will seek commodities as alternative assets, Shigemoto said.
The dollar dropped as easing concerns over credit losses in Dubai and signs the global economy is on the mend boosted demand for riskier assets.
Supply Concern
Rubber futures reached the highest level in 14 months Nov. 26 amid concern supply from Thailand will drop. Rubber plantations in the four Thai provinces affected by flooding accounted for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange lost 0.8 percent to 21,575 yuan ($3,160) a ton at 10:10 a.m. local time
Dec. 1 (Bloomberg) -- Rubber advanced as shippers in Thailand, the world’s largest producer and exporter, increased prices to foreign buyers after rain and flooding curbed production.
Futures in Tokyo may extend gains after increasing by the most in a week yesterday as Thai exporters boosted prices of so- called RSS-3 grade rubber for January shipment to $2.70 a kilogram today from $2.64 as of Nov. 27, said Takaki Shigemoto, an analyst at research and investment company JSC Corp. in Tokyo.
“Supply of raw material remains tight after rain and flooding disrupted tapping in the southern part of Thailand,” Shigemoto said by phone today.
Rubber for May delivery, the most-active contract, added 0.5 percent to 248.2 yen per kilogram ($2,856 a metric ton) on the Tokyo Commodity Exchange at 11:22 a.m. local time after trading between 246.2 yen and 249.2 yen.
The contract advanced 2.4 percent yesterday, the largest daily gain since Nov. 19, amid speculation the impact on global markets from Dubai World’s request to delay debt payments will be limited. The company said it began “constructive” talks with banks to restructure $26 billion of debt.
Rubber futures also increased as the dollar declined for a second day against the euro, raising speculation that investors will seek commodities as alternative assets, Shigemoto said.
The dollar dropped as easing concerns over credit losses in Dubai and signs the global economy is on the mend boosted demand for riskier assets.
Supply Concern
Rubber futures reached the highest level in 14 months Nov. 26 amid concern supply from Thailand will drop. Rubber plantations in the four Thai provinces affected by flooding accounted for about 20 percent of the country’s total plantation area of about 2.7 million hectares (6.7 million acres), according to the Rubber Research Institute of Thailand.
Rubber for March delivery on the Shanghai Futures Exchange lost 0.8 percent to 21,575 yuan ($3,160) a ton at 10:10 a.m. local time
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