Thursday, 7 April 2016

Daily Rubber Market Commentary by Marketmagnify

Natural rubber in the major overseas market is seen trading in red on Thursday. TOCOM rubber futures inched lower for the second day today weighed down by strengthening yen. The benchmark September rubber futures on the exchange had rallied a seven-and –half month high last day before it fizzled-off to end lower. However, firm oil prices and concerns over production lend firm support.

Indian’s natural rubber production and imports falls sharply in February by 10 and 12 percent respectively according to the Rubber Board. The country imported 27280 tonnes and production stood at 37000 tonnes. Consumption declined as well by 1.0 per cent to 82500 tonnes.
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