The domestic rubber prices declined further today, RSS-4 moved down to 132 a kg at kottayam and kochi.
Favourable change in weather may kept the domestic market under pressure. There were improved selling from growers as weather turned more fovourable for tapping.
Rubber futures in Tokyo commodity exchange fell on Thursday, extending losses into a second session amid worries about weakening demand for the industrial commodity.
Weakness in oil prices weighed. U.S. crude CLc1 fell on Wednesday as concerns over the U.S. economy and sliding fuel demand outweighed hurricane-related supply disruptions that have pushed U.S. gasoline stockpiles to their lowest level since 1967
Asian physical rubber prices were lower on Thursday as growing concerns about global demand outweighed rain in Thailand that disrupted tapping. A fall in the Thai baht against dollar also undermined dollar-based rubber prices.
The benchmark rubber contract on the Tokyo Commodity Exchange for February delivery went down by 0.2 yen, traded at 289.9
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment