Spot rubber turns weak

Spot rubber turns weak
SATURDAY, MARCH 26, 2011

KOTTAYAM, MARCH 25:
The physical rubber prices turned weak on Friday. The undercurrent was bearish in the absence of genuine buyers though there has been no visible selling pressure in the market. According to observers, the market might continue to remain sluggish with minor variations on either side till the end of the current fiscal. The trend was mixed.
The Tokyo rubber futures fell on heavy long liquidation by investment funds since it failed to break above the key resistance of ¥440 but the prices were partially supported by tight supplies on late trades.
Sheet rubber weakened to Rs 226 (228) a kg as quoted by the traders. The grade moved down to Rs 226.50 (227.50) a kg both at Kottayam and Kochi according to Rubber Board.
The April series increased to Rs 227.80 (223.54), May to Rs 233.69 (229.45), June to Rs 239.50 (235.34) and July to Rs 239.80 (237.18) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE).
RSS 3 (spot) slipped to Rs 258.90 (260.37) a kg at Bangkok. The March futures expired at ¥453.8 (Rs 249.36) a kg while the April futures declined to ¥433 (Rs 237.93) from ¥442.5 during the day session and then improved to ¥439.5 (Rs 241.50) a kg in the night session on the Tokyo Commodity Exchange (TOCOM).
Spot prices were (Rs/kg): RSS-4: 226 (228); RSS-5: 223 (224); ungraded: 219 (221); ISNR 20: 222 (222) and latex 60 per cent: 132 (130).
(Source: http://www.thehindubusinessline.com/industry-and-economy/agri-biz/article1571599.ece)




Tokyo rubber futures down
SATURDAY, MARCH 26, 2011

Bangkok (march 26, 2011) : tokyo rubber futures fell on friday on technical selling as players liquidated contracts after prices failed to break above a key resistance of 440 yen. tight supply, however, spared more losses, dealers said. the benchmark rubber contract on the tokyo commodity exchange for august delivery fell 6.8 yen to settle at 429.6 yen ($5.30) per kg.
the most active shanghai rubber contract for may delivery fell 175 yuan to settle at 36,450 yuan ($5,558) per kg. brent crude was steady near $116 on friday ahead of protests planned in bahrain, heading for a third straight weekly gain and up 1.5 percent since western powers launched a military campaign in libya and turmoil flared in yemen and syria.
the dollar hovered near a 15-month low against a basket of currencies and was in sight of a 29-year trough against the australian dollar as a bounce in equities suggested that risk appetite was on the mend. tocom rubber were expected to rebound next week as players sought to test the resistance of 430 yen again. tight supply in producing countries should provide support, dealers said.
(Source: http://www.brecorder.com/news/agriculture-and-allied/world/1170705:tokyo-rubber-futures-down.html?hl=rubber)




Rubber prices expected to rise further
SATURDAY, MARCH 26, 2011

The Malaysian rubber market is expected to continue its uptrend next week supported by higher crude oil prices.
A dealer said rising crude oil prices will make synthetic rubber, a product of crude oil, costlier.
"Higher crude oil prices will lend support to the market despite increased fears that Japan's disaster could disrupt automobile manufacture and supply from key producing countries," he added.
For the just-ended week, rubber prices mostly tracked movements on Tokyo and the Shanghai futures markets.
Tyre-grade SMR 20 surged 134.5 sen to 1,528 sen per kg, from 1,393.5 sen per kg previously, while latex-in-bulk increased 145.5 sen to 1,042 sen per kg on Friday, from 896.5 sen per kg, recorded previously.
Read more: Rubber prices expected to rise further http://www.btimes.com.my/articles/20110326135806/Article/#ixzz1HiMkgjqN