Market on Feb 21: Spot rubber improves with global cues

Market on Feb 21: Spot rubber improves with global cues
February 21, 2012




KOTTAYAM, FEB. 21:

Domestic rubber prices showed a better trend on Tuesday. In the spot, the market improved following the moderate gains on the National Multi Commodity Exchange (NMCE) and Tokyo Commodity Exchange (TOCOM).

According to observers, sellers stayed back expecting the prices to move up further, while covering purchases at lower levels kept the market firm during closing hours. The trend was partially mixed.

Sheet rubber improved to Rs 185.50 from Rs 184.50 and Rs 185 a kg respectively according to traders and the Rubber Board.

In futures, the March series firmed up to Rs 187.75 (184.98), April to Rs 193.67 (190.99), May to Rs 196.80 (194.16), June to Rs 199.02 (195.51) and July to Rs 201.70 (199.48) a kg for RSS 4 on the NMCE.

RSS 3 (spot) closed at Rs 201.81 (201.35) a kg at Bangkok. The February futures increased to ¥312.9 (Rs 192.98) from ¥309.5 a kg during the day session and then to ¥316 (Rs 194.88) in the night session on the TOCOM.

Spot rates were (Rs/kg): RSS-4: 185.50 (184.50); RSS-5: 183 (181); ungraded: 180 (177); ISNR 20: 184.50 (184.50) and latex 60 per cent: 128.50 (128.50)






Spot rubber prices in Asia rose on February 22,2012
February 23, 2012




SINGAPORE, February 22 Spot rubber prices in Asia rose on Wednesday, traders said the market to follow the rising trend of the TOCOM of plastic or material subject to market bid cautious.

An industry executives said the offer range in Thailand, at least one large exporters are willing to just higher than the cost price of sales.

March / April shipment of Thai STR20 grade rubber reported U.S. $ 3,880 per tonne, FOB basis; 1,000 tons have been sold to a trading company.

March / April shipment of Thailand on the 3rd Yan Pianjiao RSS3 at 406-415 cents per kilogram, 403-410 cents per kg of the previous day’s newspaper.

Shipment in March / April, Thai tire grade Standard plastic STR20 388-395 cents per kilogram, the previous day at 383-388 cents per kilogram.

April / May shipment of Indonesian tire-class standard rubber SIR20 386-387 cents per kilogram, the previous day at 378-383 cents per kilogram.

April / May shipment, the Malaysian tire-class standard rubber SMR20 389 cents per kg, the previous day at 385 cents per kilogram.




Rising natural rubber demand to keep global prices up
February 22, 2012




MUMBAI (Commodity Online): Rising demand for natural rubber from tyre makers amid declining production in top producing countries may keep the global price up in the coming days.

Many rubber producing areas in Thailand and Indonesia is experencing low latex production on bad weather conditions.

This declining production of rubber coupled with easing global crisis is heating up the price of the commodity.

Rubber futures in Tokyo Commodity Exchange (TOCOM), gained for the fourth day. For July delivery advanced 2.8% to 337.6 yen a kilogram, the highest settlement level since September 22.

The raised after Europe agreed on a second bailout for Greece.

Rubber for March delivery, in TOCOM traded at 323.5 yen a Kg and in National Multi Commodity Exchange (NMCE) traded at Rs 18,690 per ton on 22nd February.





Tokyo futures at 5-mth high, may rise further (Feb 22)
February 22, 2012



BANGKOK, Feb 22 (Reuters) – Tokyo rubber futures jumped 2.8 percent on Wednesday, revisiting a 5-month high on hopes for the long-awaited Greek bailout deal and firmness in oil prices, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery rose 9.2 yen to settle at 337.6 yen ($4.23)per kg.

It rose as much as 2.8 percent to an intra-day high of 337.8 yen per kg, the highest since Sept. 26.

The most active rubber contract on the Shanghai rubber futures exchange for May delivery rose 190 yuan to finish at 29,100 yuan ($4,600)per tonne.

The front-month March TSR20 rubber contract on SICOM was last traded at 386.00 U.S. cents per kg, up 5.4 cents.

“Rubber prices should rise further to test the new technical resistance of 338 yen as oil prices remain firm, and I think oil prices at above $100 should still support rubber,” one dealer said.

Brent crude was slightly changed on Wednesday, retreating from a nine-month high, due to weaker Chinese manufacturing data. By 0737 GMT, it was at 106.37 a barrel.

Euro zone finance ministers agreed on a 130 billion euro ($172 billion) rescue for Greece to avert a chaotic default after forcing Athens to commit to unpopular cuts and private bondholders agreed to take bigger losses.

Dealers said technical sentiment on rubber improved after prices broke above a major resistance of 330 yen and were likely to rise further to test the next resistance of 338 yen, with limited supply on the physical market providing an additional support. ($1=79.7500 Japanese yen)

($1=6.2964 Chinese yuan)