Spot rubber rules steady

Spot rubber rules steady

Kottayam, Aug 17

Spot rubber prices closed unchanged on Tuesday. According to observers, the market remained neutral in tune with an almost similar mood in the major futures markets. Sheet rubber finished flat at Rs 184 a kg amidst scattered transactions. The Rubber Board's rate was also steady at Rs 183 a kg for RSS 4. Volumes were low.

Futures mixed

The domestic rubber futures showed a mixed trend on the National Multi Commodity Exchange. The September series closed at Rs 176.49 (176.64), October at Rs 169.25 (169.33), November at Rs 167.10 (166.50) and December at Rs 167.60 (166.97) a kg for RSS 4.

In the international market, Tokyo rubber futures closed slightly higher, followed by a slowdown in yen's appreciation against dollar. Transactions were in a low key due to the summer holiday season and uncertainties over the outlook for Japanese currency. The August futures for RSS 3 improved marginally to ¥325.7/Rs 178.03 (¥325.4) during the day session and to ¥326.8 (Rs 178.61) a kg during the night session on the Tokyo Commodity Exchange (TOCOM). The grade (spot) closed firm at Rs 153.45 (Rs 152.77) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 184 (184); RSS-5: 174 (174); ungraded: 164 (164); ISNR 20: 156 (156) and latex 60 per cent: 114 (114).



Malaysia’s rubber output falls by 12% in June



MUMBAI (Commodity Online): Malaysia's natural rubber production in June fell 12% from a year earlier to 70,745 metric tons, data from Malaysia's Department of Statistics showed Friday. Rubber stocks at the end of June totaled 117,226 tons, down 8.5% from a year earlier.

Rubber exports rose 24% to 71,339 tons, while imports fell 35% to 49,679 tons. Domestic rubber consumption fell 11% on year to 35,977 tons. Around 70% of Malaysia's rubber consumption is in the glove industry, which mainly uses latex concentrate.

U.S. imports of technically specified natural rubber rose 9.9% in June from the previous month, and was up 138.9% from the previous year, the Commerce Department reported Wednesday.

According to Vietnam Rubber Association, Vietnam exported 324,000 mt rubber in the first seven months of the calendar year, down 3.4% over the year. China's tire output in July rose 9.50% from a year earlier to 63.08 million units, the National Bureau of Statistics reported on Wednesday. Total output in the January-July period rose 25.30% from the same period last year to 444.64 million units.

China's natural rubber imports in July fell 11.8% from a year earlier to 150,000 metric tons, but were 15.4% higher than the preceding month, the General Administration of Customs said Tuesday. Total imports between January and July decreased 1% to 980,000 tons.

TOCOM decided to decrease the delivery unit from 10 tonnes to 5 tonnes in order to meet the needs of commercials and improve the convenience of the market.

Yesterday the Exchange received an approval from the Minister of Economy, Trade an Industry to execute the necessary amendments to its Market Rules, which prescribe the delivery unit of each futures contract. Changes in the delivery unit of rubber futures will be applied from the March 2011 contract that will start trading on September 27, 2010.



US rubber imports rises by 9.9% in June


MUMBAI (Commodity Online): U.S. imports of technically specified natural rubber rose 9.9% in June from the previous month, and was up 138.9% from the previous year, the Commerce Department reported Wednesday.

According to Vietnam Rubber Association, Vietnam exported 324,000 tn rubber in the first seven months of the calendar year, down 3.4% over the year.

China's tire output in July rose 9.50% from a year earlier to 63.08 million units, the National Bureau of Statistics reported on Wednesday. Total output in the January-July period rose 25.30% from the same period last year to 444.64 million units.

China's natural rubber imports in July fell 11.8% from a year earlier to 150,000 metric tons, but were 15.4% higher than the preceding month, the General Administration of Customs said Tuesday. Total imports between January and July decreased 1% to 980,000 tons TOCOM decided to decrease the delivery unit from 10 tonnes to 5 tonnes in order to meet the needs of commercials and improve the convenience of the market.

Yesterday the Exchange received an approval from the Minister of Economy, Trade and
Industry to execute the necessary amendments to its Market Rules, which prescribe the delivery unit of each futures contract. Changes in the delivery unit of rubber futures will be applied from the March 2011 contract that will start trading on September 27, 2010.

Car sales in India rose in July by an annual 38 percent, Firms sold 158,764 cars in the month, compared with 115,084 units a year ago, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Sales of trucks and buses, a barometer of economic activity, rose 37 percent to 51,481 units in July.