THE RUBBER MARKET SHOWED A BETTER TREND TODAY. THE SPOT PRICE OF RSS-4 IMPROVED TO 141 FROM 140 A KG. THE PLANTATIONS WERE BADLY AFFECTED BY CONTINUING SHOWERS RESULTING IN DISRUPTION OF TAPPING. THERE WERE NO SELLERS IN THE MARKET.
TOKYO RUBBER DOWN 1.5 PERCENT
RUBBER IS UNDER PRESSURE THIS DAY, MAINLY DUE TO THE STRENGTH OF THE YEN AND FALLS IN CRUDE OIL AFTER A STRONG GAIN IN THE PREVIOUS DAY.
IUSD = 107.46 JAPANESE YEN. NEW YORK CRUDE OIL RATE FOR I BRL = $105.43 (-0.91) .
RUBBER FUTURES IN TOKYO COMMODITY EXCHANGE SLIPPED 1.5 PERCENT ON TUESDAY. RECOVERY OF YEN AND WEAKER OIL PRICES PROMPTED PROFIT-TAKING, BUT FUTURE PRICES WILL BE SUPPORTED BY HIGH PHYSICAL PRICES DUE TO RAIN IN THAILAND.
THE BENCHMARK RUBBER CONTRACT ON THE TOKYO COMMODITY EXCHANGE FOR FEBRUARY DELIVERY WENT DOWN BY 8 YEN, TRADED AT 305.9 YEN.
ASIAN PHYSICAL RUBBER PRICES WERE MOSTLY LOWER THIS DAY DUE TO FALLS IN TOKYO COMMODITY EXCHANGE. THE PHYSICAL PRICES WRE SUPPORTED ON SUPPLY CONCERNS, WITH SOME RUBBER SHIPMENTS FROM THAILAND HAVE BEEN DELAYED DUE TO RAIL STRIKE. THE PHYSICAL PRICES WERE ALSO SUPPORTED BY UNSEASONAL RAIN IN SOUTHERN THAILAND.
INDIA EXTENDS BAN ON RUBBER
INDIA EXTENDED A FOUR-MONTH BAN ON FUTURE TRADING IN RUBBER, SOYBEAN OIL, POTATOES AND CHICKPEAS TO COOL INFLATION. THE BAN HAS BEEN EXTENDED TILL NOVEMBER 30. THE NATURAL RUBBER PRICES IN INDIA HAVE RISEN 12% SINCE THE BAN WAS IMPOSED IN MAY.
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