High rubber prices to continue in 2011 as well

Hainan Rubber to raise RMB 4.71 bln from Shanghai IPO
Posted: 27 Dec 2010 06:24 AM PST
Dec. 27, 2010 (China Knowledge) - Hainan Rubber Industry Group Co Ltd, a leading agricultural industrialization enterprise in China, today announced that it will raise up to RMB 4.71 billion from an initial public offering in Shanghai, Reuters reported. The company said in a statement that it will issue 786 million shares via both online and offline placement at a price ranging from RMB 5.50.




Commodity Outlook for Rubber by KediaCommodity
Posted: 27 Dec 2010 06:22 AM PST
Rubber ended the week higher on the back of increasing crude oil price to the highest level in more than two years, resulting boosting the cost of making rival synthetic products. Moreover, the rubber's supply is expected to decline more in next year as the low production season will starts in Thailand in next year. Therefore, overseas buyers, mainly from China, India and Japan, have started to buy rubber.




High rubber prices to continue in 2011 as well
Posted: 27 Dec 2010 06:16 AM PST
Domestic as well global rubber prices rallied to fresh historical highs due to heavy rainfall in top natural rubber producing areas of Southeast Asia like Thailand and India which may hit output for current year. Prices have also been supported by healthy demand from tyre industry and strong imports in China . Indian rubber supplies peak October-January, but this year unseasonal rains have been playing havoc in rubber producing states specially Kerala.




Rubber Futures Advance to Record as China's Stocks Rally After Rate Rise
Posted: 27 Dec 2010 06:13 AM PST
Rubber climbed to a record for a sixth day as higher oil prices boosted its appeal amid expectations a supply shortage may worsen early next year as top exporter Thailand enters a low-production period. The June-delivery contract rallied as much as 0.7 percent to 419.3 yen per kilogram ($5,069 a metric ton) on the Tokyo Commodity Exchange before settling at 417.6 yen.




India cuts rubber import duty, tyre makers rejoice
Posted: 27 Dec 2010 06:08 AM PST
NEW DELHI (Commodity Online): Tyre makers in India have rejoiced at government’s decision to slash the import duty on natural rubber from 20 per cent to 7.5 percent. The concession put forward by Govt are only for goods up to an aggregate of 40,000 metric tonnes of total imports during the remaining three months of the current fiscal ending March 31, 2011. Earlier in May, tyre manufacturers had appealed in Supreme Court for this.




Rubber prices to trend higher next week
Posted: 26 Dec 2010 03:16 PM PST
KUALA LUMPUR, Saturday 25 December 2010 (Bernama) -- The Malaysian rubber market is expected to trend higher next week as low production due to bad weather will continue to push prices higher, dealers said. A dealer said supply concerns remained amid the current heavy rainfalls in major rubber-producing countries.



Will the duty cut take the heat off tyre firms?
Posted: 26 Dec 2010 03:14 PM PST
The much-awaited duty cut on rubber imports will offer twin benefits for the tyre industry—it corrects the inverted duty structure in the tyre sector and will, in the longer term, temper rubber prices. So far, the import duty on rubber (the main input in tyre making) at 20% was higher than the 8.5% on tyres (finished good). Consequently, as rubber prices rocketed to a new high of Rs. 208/kg.