Sun-kissed and well-rested (sort of), our SW Team is back at work after a week of relaxation in beautiful Hawaii. Now that it’s business as usual, it’s about time we had an industry update…
Update: Asian Rubber Futures Off Lows After Falling On China Talk
SINGAPORE (Dow Jones)–Asian rubber futures fell sharply Wednesday, with the benchmark April contract on the Tokyo Commodity Exchange tumbling as much 3.6% before recovering much of the lost ground as lower prices attracted fresh speculative buying.
Investors rushed to liquidate longs in early trade, taking cues from weak crude oil, a stronger U.S. dollar and speculation that China may raise interest rates. (read on…)
Rubber Futures Decline on China’s Price-Cooling Moves, Tension Over Korea
Rubber declined for the first time in four days on concern that China’s measures to tame inflation may curb demand from the world’s largest user and after North Korea attacked South Korea, weakening investor risk appetite.
April-delivery rubber on the Tokyo Commodity Exchange slumped as much as 3.6 percent to 356.4 yen per kilogram ($4,283 a metric ton) before settling at 359.5 yen. It also dropped as Standard & Poor’s Ratings Services cut Ireland’s credit rating, raising concern that Europe’s debt crisis may stall the region’s economic recovery. The market was closed yesterday for a holiday. (read on…)
Tokyo rubber futures fall
TOKYO (November 27, 2010) : Key Tokyo rubber futures tumbled on Friday, dragged lower by a slump in Shanghai rubber futures that prompted investors to take profits. The key Tokyo Commodity Exchange rubber contract for May delivery, which debuted on Thursday, fell as much as 11 yen or 3 percent to 351.7 yen per kg. (read on…)
Commodity futures could manage price risk ailing rubber industries
Lesser carry over inventory, not enough supply and vagaries of weather in most producing countries has kept rubber price high globally and there is no price drop in sight. The challenge for rubber user industry is how to manage the cost of rubber, a key raw material.
The price rise is on the basis of fundamentals. There is global tightness in availability and it is more so in India due to very good growth in tyre sector demand. Tyre production in India in the first half of this financial year (April-September) increased 28% while the exports registered an increase of 18%. The production increased in all tyre segments while growth was negative in exports of truck/bus tyres, light commercial vehicle (LCV) and tractor tyres, according to the latest data by the Automotive Tyre Manufacturers Association (ATMA). (read on…)
Rubber Futures Advance as U.S. Payroll, Auto Sales Boost Demand Prospect
Rubber climbed for a fourth day to a one-week high as data showed bigger-than-forecast growth in U.S. employment and higher vehicle sales, boosting optimism that demand will grow for the commodity used in tires.
May-delivery rubber on the Tokyo Commodity Exchange added as much as 2.7 percent to 373.3 yen per kilogram ($4,441 a metric ton) before settling at 371.7 yen. The most-active contract reached a 30-year high of 383 yen on Nov. 11. (read on…)
M’sian rubber market seen to be firm this week
KUALA LUMPUR The Malaysian rubber market is expected to be firm this week, dealers said.
A dealer said there may be concerns on supply contraints due to bad weather that had disrupted tapping and output.
Prices are likely to be supported at this level amid concerns over tight supplies, he said. (read on…)
Tokyo rubber futures down
BANGKOK (December 04, 2010) : Tokyo rubber futures edged lower on Friday as investors took profits to avoid risk ahead of the weekend, especially after prices failed to break resistance at 375 yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery fell 1.3 yen to settle at 370.4 yen ($4.43) per kg. (read on…)
Spot rubber ends unchanged
On Saturday (04 December 2010), the spot rubber prices ended unchanged and the market was comparatively inactive and neural as the domestic futures were almost steady with marginal variations. Sheet rubber ended unchanged at Rs. 197 per kg. (read on…)