Spot rubber unchanged in dull trade

Spot rubber unchanged in dull trade


Kottayam, Dec. 24

Physical rubber prices finished unchanged on Friday. Sheet rubber closed unchanged at Rs 206.50 a kg, according to dealers. Transactions were low.

India has cut import duty on natural rubber to 7 per cent for shipments up to 40,000 tonnes until March 31. India imports natural rubber mainly from Thailand, Malaysia and Indonesia. But the tyre makers have stopped signing new import deals as they get the raw material more than 15 per cent cheaper in the local market.

Global supply of natural rubber (NR) is anticipated to fall 6.3 per cent in the fourth quarter (October-December) this year according to the revised estimates officially reported on December 16 by member countries of the ANRPC which account for 92 per cent of the commodity's global supply. This further downward revision from the previously expected 3.8 per cent fall during the quarter originates from Thailand (revised down from -28.4 per cent to -33.4 per cent), India (revised down from -1.8 per cent to - 4.6 per cent) and Vietnam (revised down from +3.8 per cent to - 2.8 per cent).

In futures, the January series increased to Rs 212.80 (210.13), February to Rs 217.50 (215.19), March to Rs 222.25 (219.98) and April to Rs 227.20 (225.09) a kg on National Multi Commodity Exchange (NMCE).

The volumes totalled 5,230 lots and open interest 8,105 lots. The turnover was Rs 112.64 crores.

RSS 3 (spot) closed at Rs 222.82 (222.58) a kg at Bangkok. The January futures for the grade improved to ¥ 407.0 (Rs 221.47) from ¥ 404.9 during the day session and then to ¥ 409.0 (Rs 222.57) per kg in the night session on Tokyo Commodity Exchange (TOCOM).

The spot rubber rates per kg were: RSS-4: Rs 206.50 (206.50), RSS-5: Rs 200.00 (200.00), Ungraded: Rs 195.00 (195.00), ISNR 20: Rs 204.00 (204.00) and Latex 60 per cent: Rs 137.00 (137.00).


Rubber mart seen trending higher
Posted: 25 Dec 2010 07:20 PM PST
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. "This is amid increasing prices of crude oil, which increase the cost of producing rival synthetic rubber," a dealer said.




CPO futures end mostly higher
Posted: 25 Dec 2010 07:07 PM PST
CPO FUTURES CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed mostly higher yesterday, dealers said. They said the firmer prices were helped by lower vegetable oils output amid gloomy weather and higher crude oil price. January 2011 gained RM10 to RM3,730 per tonne, February 2011 rose RM6 to RM3,696, March 2011 increased RM7 to RM3,665 and January 2012 declined RM20




Rubber Prices Settled In The Mixed Trends Towards Strong Crude Oil Prices
Posted: 25 Dec 2010 06:20 PM PST
Rubber futures and physical markets settled mostly lower on 22 December from a day earlier as investors took profits on rubber futures amid concerns over tightening global rubber supply before year-end holidays. The new benchmark June Tocom rubber contract settled lower at 413.5 yen/kg on 22 December at the day session as some investors took profits ahead of a public holiday in Japan on 23




China Increases Interest Rates to Curb Its Fastest Inflation in Two Years
Posted: 25 Dec 2010 03:49 PM PST
China raised interest rates for the second time since mid-October to counter the fastest inflation in more than two years and more moves may follow. The benchmark one-year lending rate will rise by 25 basis points to 5.81 percent and the one-year deposit rate will climb by the same amount to 2.75 percent, effective today, the People’s Bank of China said in a one-sentence statement on its website




Rubber import duty cut may not have desired impact: dealers
Posted: 25 Dec 2010 03:46 PM PST
The government's efforts to cool down rising rubber prices by lowering import duty may not yield the desired results, as traders are unlikely to resort to overseas purchases due to higher prices of the commodity in international markets than domestic rates. The government had on December 23 reduced import duty on natural rubber shipments of up to 40,000 tonnes to 7.5 per cent from 20 per cent




Tokyo rubber futures hit record high
Posted: 25 Dec 2010 03:42 PM PST
Tokyo (december 25, 2010) : key tokyo rubber futures hit a record high on friday in a holiday-thinned market, with sentiment helped by tight supply and a rise in oil prices above $90 a barrel the day before. the key tokyo commodity exchange rubber contract for june delivery, which debuted on wednesday, rose as high as 418.5 yen per kg as of 0103 gmt. that was up 5 yen or 1.2 percent from




Rubber in Tokyo Advances to a Record on High Oil Prices, Tight Thai Supply
Posted: 25 Dec 2010 03:41 PM PST
Rubber climbed to a record after crude oil climbed to the highest level in more than two years, boosting the cost of making rival synthetic products, and heavy rains curbed supplies from Thailand, the largest shipper. The June-delivery contract, which listed on the Tokyo Commodity Exchange on Dec. 22, surged to as high as 419 yen per kilogram ($5,054 a metric ton) during the so-called night




Vietnam trade gap shrinks to $12.37 billion
Posted: 25 Dec 2010 03:39 PM PST
Hanoi (december 26, 2010) : vietnam's trade deficit this year is expected to narrow to $12.37 billion following an annual jump in exports of 25.5 percent to $71.63 billion, a state-run newspaper reported on saturday. imports this year would rise 20.1 percent to $80 billion, the ruling communist party-run nhan dan (people) daily cited the industry and trade ministry s saying in a report. it




Tyre industry welcomes govt move to slash tariff on rubber
Posted: 25 Dec 2010 03:36 PM PST
Tyre-makers in India have cautiously welcomed the government's decision to slash the import duty on natural rubber from 20 per cent to 7.5 per cent, but do not expect their bottom-lines to improve in the near future. Earlier in May, tyre manufacturers had dragged the government to court, accusing it of having a discriminatory import duty structure. While natural rubber imports attracted a duty




Tyre scrips soar on rubber import duty cut
Posted: 25 Dec 2010 03:34 PM PST
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Spot rubber unchanged in dull trade
Posted: 25 Dec 2010 03:32 PM PST
Kottayam, Dec. 24 Physical rubber prices finished unchanged on Friday. Sheet rubber closed unchanged at Rs 206.50 a kg, according to dealers. Transactions were low. India has cut import duty on natural rubber to 7 per cent for shipments up to 40,000 tonnes until March 31. India imports natural rubber mainly from Thailand, Malaysia and Indonesia. But the tyre makers have stopped signing new




Buyer resistance drags spot rubber
Posted: 25 Dec 2010 03:29 PM PST
Kottayam, Dec 23 Spot rubber prices declined further on Thursday. Prices fell on buyer resistance amidst scattered transactions though there has been no visible selling pressure in the market. Traders appeared to be moving in to a holiday mood with Christmas a couple of days away. According to observers, growers were not interested to sell their produce prior to the festive season as the




India Cuts Duty on Natural Rubber Imports to 7.5% Until March 31
Posted: 25 Dec 2010 03:26 PM PST
Dec. 24 (Bloomberg) -- India, the fourth-biggest producer of natural rubber, reduced the import tax to 7.5 percent for shipments up to 40,000 tons until March 31, according to a Finance Ministry notification dated Dec. 22. The import duty has been reduced from 20 percent. (Source: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a77SvwMcH5GU)