India: Physical rubber prices decline further on Wednesday

India: Physical rubber prices decline further on Wednesday
June 7, 2012




Jun 07, 2012

Physical rubber prices continued declining and lost further ground on Wednesday, though the domestic futures bounced back but there were no quantity buyers in the spot market even at the prevailing levels.

Spot prices for RSS-4 variety closed at Rs 191/kg compared to its previous closing of Rs 192/kg; while the RSS-5 variety remained unchanged at Rs 189/kg.

In the futures market, the contract of RSS 4 for June delivery improved to Rs 191.30 compared to its previous closing of Rs 188.11, while the contract for July delivery closed at Rs 193.40 compared to its previous closing of Rs 190 on the National Multi Commodity Exchange.





Japan’s domestic car sales up by 66% in May
June 7, 2012




Recently, the Japan Automobile Dealers Association JADA (Japan Automobile Dealers, Association) announced May sales of the Japanese auto market. The data show that, excluding mini-car sales in May of this year’s total car sales in the Japanese auto market 236,366 cars, up 66.3 percent over the same period last year, last year’s sales of 142,154 vehicles.

Exclude mini-vehicles, Toyota Motor Corporation in May sales topping the list from last year’s growth of 49,606 vehicles to 112,587 vehicles, an increase of up to 127%; followed by Honda’s sales increased from 21,194 vehicles to 31,556 vehicles; Nissan is located in the third, sales up an increase of 25.3 percent to 31,024 vehicles.





Market on Jun 6: Spot rubber declines further
June 6, 2012




KOTTAYAM, JUNE 6:

Physical rubber prices fell further on Wednesday. According to observers, there were no quantity buyers in the market even at the prevailing levels. Anticipation of higher imports due to lower prices in the international markets amidst lacklustre demand and gloomy economic outlook is likely to build further pressure over the markets. The trend was partially mixed.

Sheet rubber weakened to Rs 191 (192) a kg according to traders. The grade dropped to Rs 191.50 (192) a kg both at Kottayam and Kochi as reported by the Rubber Board.

The June series improved to Rs 191.30 (188.11), July to Rs 193.40 (190), August to Rs 192.01 (189.17) and November to Rs 192.03 (191.50) while the September series slipped to Rs 187.11 (187.95) a kg for RSS 4 on the National Multi Commodity Exchange.

The June futures slipped to ¥246.5 (Rs 172.44) from ¥247.9 a kg during the day session but then recovered to ¥247 (Rs 172.71) a kg in the night session on the Tokyo Commodity Exchange. RSS 3 (spot) dropped to Rs 193.39 (195.63) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 191 (192); RSS-5: 189 (189); ungraded: 184 (186.50); ISNR 20: 188 (191) and latex 60 per cent: 131 (131).





India: Free fall of rubber price continues
June 6, 2012




KOCHI: Natural rubber in the country’s markets weakened further on Wednesday with rubber futures on the National Multi Commodity Exchange (NMCE) dropping 1.5%. This follows an over 2% drop in prices on Tuesday. The recent rise in petrol prices and a decline in GDP growth to 5.3% in the fourth quarter of 2011-12 have added to the woes of this plantation crop, analysts said.

At NMCE, a weakening trend in rubber futures was noticed on Tuesday with June contracts dropping by 2.4% to Rs 19,261 per 100 kg. On Wednesday, June contracts were further down by 1.5% to Rs 18,979 per 100 kg. July and August contracts were trading at Rs 19,155 and Rs 19,040 per 100 kg, respectively on Wednesday. Commodities research firm Geojit Comtrade said in a report on Tuesday that RSS-4 (Ribbed Smoked Sheet) in the spot market is being quoted at its lowest since April-end while in the future market, prices have slipped to a five-week low.

In Kochi and Kottayam, the two key rubber markets in India, RSS-4 prices have been continuously falling and in the beginning of the week, prices weakened by Rs 150 per 100 kg to Rs 19,200 levels. Prices of RSS-4 in the Kottayam and Kochi markets were Rs 19,200 on Wednesday.

“Selling momentum gathered pace in the local market, tracking heavy losses in natural rubber prices in the global market. Anticipation of higher imports due to lower prices in the international market increased in arrivals amidst lackluster demand, and gloomy economic outlook is likely to build further pressure,” the report said. Geojit Comtrade noted that a brief pullback towards Rs 19,140 – Rs 19,200 levels cannot be ruled out before the downtrend resumes. “However, prices are expected to have some level of support at Rs 18,950 levels. Consistent trades below Rs 18,950 may see weakness extending towards the Rs18,600 – Rs 18,500 region in the near term, Now, a close above Rs 19,400 is required to ward off the weakness,” it added.