The rubber prices showed a mixed mood on Tuesday. The market appeared missing its direction as the domestic and international prices reached almost the same levels. Rubber RSS 4 moved down to Rs 89 from Rs 90 a kg on Monday.
The key Tokyo rubber futures rose on today in a technical rebound after demand worries spurred a sharp sell off over the previous two days.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 163 yen per kilogram, 3.8 yen up.
Japans’s largest automaker Toyota motor corporation said on Monday its global output fell 2.9% in September.
Tokyo benchmark Nikkie average fell one percent on Tuesday, a day after hitting a 26-year closing low.
In physical rubber market, prices firmed given reduced supply due to rains in the main producing region in Thailand.
Tuesday, October 28, 2008
Friday, October 17, 2008
Tokyo rubber recovers on oil price
Natural rubber futures in Tokyo commodity exchange rose three percent on Friday as rebound oil prices encouraged bargain-hunting. Yesterday Tokyo rubber futures fell as low as 159.3 yen, the lowest since july 2005 and more than 40% below the benchmark contract a month earlier, as plunging stocks, tightening credit and job cuts worldwide dimmed the outlook for car sales. Rubber is the main raw material for tires.
The global market for natural rubber is facing turbulence on reports of decreasing crude prices and global economic crisis, the Bangok market today quoted Rs 84.45 (-367) for the RSS 3 grade.
Chinese buyers have defaulted on more than 10,000 tonnes of rubber from south-east Asia after prices lost more than 30% in the past month on fears of global recession.
The out look of demand remains gloomy given slumping car sales around the globe. But main producing countries – Thailand, Indonesia and Malaysia are set to announce the results of their two-day meeting in Bangok to counter a collapse inprices later in the day.
Today’s business standard reports that the kerala’s economy is set to lose around Rs 1,600 crore due to recent erosion in prices of natural rubber. To read more…
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 164.1 yen per kilogram, 2 yen up.
The global market for natural rubber is facing turbulence on reports of decreasing crude prices and global economic crisis, the Bangok market today quoted Rs 84.45 (-367) for the RSS 3 grade.
Chinese buyers have defaulted on more than 10,000 tonnes of rubber from south-east Asia after prices lost more than 30% in the past month on fears of global recession.
The out look of demand remains gloomy given slumping car sales around the globe. But main producing countries – Thailand, Indonesia and Malaysia are set to announce the results of their two-day meeting in Bangok to counter a collapse inprices later in the day.
Today’s business standard reports that the kerala’s economy is set to lose around Rs 1,600 crore due to recent erosion in prices of natural rubber. To read more…
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 164.1 yen per kilogram, 2 yen up.
Tuesday, October 14, 2008
Rubber Market is Under Pressure
The rubber market remained under pressure as Japanese indices shows some mixed trend. During the morning session Tokyo rubber futures rose more than six percent as Japanese shares jumped amid hopes for an easing of the credit crisis and less fears over a recession, which would contain demand for the industrial commodity. The rubber market had fallen more than twenty percent over the past five days.
The world’s top three rubber producing countries, Thailand, Indonesia and Malaysia are scheduled to hold a two-day meeting from Thursday in Bangok to coordinate efforts to boost falling prices. The three southeast Asian countries produce some 80 percent of the world’s natural rubber input.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 191.5 yen per kilogram, 0.5 yen up.
The world’s top three rubber producing countries, Thailand, Indonesia and Malaysia are scheduled to hold a two-day meeting from Thursday in Bangok to coordinate efforts to boost falling prices. The three southeast Asian countries produce some 80 percent of the world’s natural rubber input.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 191.5 yen per kilogram, 0.5 yen up.
Wednesday, October 8, 2008
Rubber Declines to Rs 93
Natural rubber futures in Tokyo commodity exchange fell for the fifth consecutive day on Wednesday to the lowest since December 2006, on concern the global credit crisis is slowing economic growth and weakening demand for the commodity used to make tires.
Asian physical rubber prices tumbled today reflecting the sharp decline in Tokyo rubber futures, which have lost about eleven percent since last week, on concern that the economic downturn will depress demand.
On account of the words of Mr.N Radhakrishnan, the president of Cochin rubber merchants Association, the unprecedented fall in rubber spot prices during the last two weeks will lead to 7000 rubber traders losing a sum total of around Rs 70 crore.
The crash in prices following the plummeting of commodity prices globally has put traders in a disarray. The domestic prices which ruled at Rs 10 a kg higher than the rates in the global market are now quoting Rs 15 lower than the international market.
Depreciation in the price of crude oil is a major concern of the natural market as this in turn would cause a drop in the prices of synthetic rubber. The huge rise in the synthetic rubber prices for the last few months was a major factor for the sharp rise in price of natural rubber.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 206 yen per kilogram, 15.4 yen down.
Asian physical rubber prices tumbled today reflecting the sharp decline in Tokyo rubber futures, which have lost about eleven percent since last week, on concern that the economic downturn will depress demand.
On account of the words of Mr.N Radhakrishnan, the president of Cochin rubber merchants Association, the unprecedented fall in rubber spot prices during the last two weeks will lead to 7000 rubber traders losing a sum total of around Rs 70 crore.
The crash in prices following the plummeting of commodity prices globally has put traders in a disarray. The domestic prices which ruled at Rs 10 a kg higher than the rates in the global market are now quoting Rs 15 lower than the international market.
Depreciation in the price of crude oil is a major concern of the natural market as this in turn would cause a drop in the prices of synthetic rubber. The huge rise in the synthetic rubber prices for the last few months was a major factor for the sharp rise in price of natural rubber.
Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 206 yen per kilogram, 15.4 yen down.
Monday, October 6, 2008
Rubber Downtrend Continues
Rubber prices resumed the downtrend today. The prices fell on buyers resistance as the international indices were hit badly on heavy long liquidation.
Rubber futures in Tokyo commodity exchange edged down to a twenty one month low, on concern the global credit crisis is slowing economic growth and weakening demand for the raw material used to make car tires.
Sharp falls in Asian equities prices undermined sentiment in commodities, including rubber, as investors rushed to sell to avoid holding risk assets.
Asian physical rubber prices fell sharply on Monday, reflecting falls in Tokyo and China futures prices due to growing concerns over demand as the financial crisis hits the global economy. Most buyers were on the sidelines waiting for prices to fall further.
The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery went down by 16 yen, traded at 226.3 yen.
Rubber futures in Tokyo commodity exchange edged down to a twenty one month low, on concern the global credit crisis is slowing economic growth and weakening demand for the raw material used to make car tires.
Sharp falls in Asian equities prices undermined sentiment in commodities, including rubber, as investors rushed to sell to avoid holding risk assets.
Asian physical rubber prices fell sharply on Monday, reflecting falls in Tokyo and China futures prices due to growing concerns over demand as the financial crisis hits the global economy. Most buyers were on the sidelines waiting for prices to fall further.
The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery went down by 16 yen, traded at 226.3 yen.
Subscribe to:
Posts (Atom)
