Although global natural rubber prices have remained very much unpredictable since September, the domestic market prices have been declining ceaselessly. In any case, rubber commodities prices in both markets are anticipated to move up and restore on year-end request.
In the spot or cash market, the prices of RSS-4, the favourable raw material for radial tyres, have tumbled from 132 Rupees per kg at the beginning of September to 123 Rupees per kg a week ago.
Prices were fixed during downpour season and floods in Kerala. After downpours quit, tapping continued in the rubber production zones of Kerala, enhancing the supply and this facilitated prices correct from 132 Rupees per kg, stated Veeresh Hiremath, Head of Research, Karvy Commodities.
Indian rubber commodities prices were trading significantly higher than Thai and Malaysian rubber, in August. It was about 38 Rupees per kg costlier than Malaysian rubber and about 39 Rupees per kg higher than Thai rubber during the second week of August. However, both demand and supply of Indian rubber did not bolster any upside in prices.
Yet, worldwide rubber prices have remained very unstable during this period. At the TOCOM (Tokyo Commodity Exchange), rubber prices were exchanging at 164.2 yen per kg in the start of September 2018. It has been moving up and down within a range of 167-174 yen per kg in the past few weeks. It was trading at 166 yen per kg by the end of last week, according to dailyhunt.
The year-end automobiles sales will force the demand for tyres. The introduction of new vehicle models will additionally bolster demand for tyres. Moreover, most of the tyre companies begin planning the budget for their next year purchase and bargain prices during the year-end. The market will wind up dynamic and rubber commodities prices in both domestic and global markets are expected to revive on year-end demand, during this time of mid-November, as reported on commodityonline.
The post Mid-November Rubber Commodities Prices To Move Up In Both Global And Domestic Markets appeared first on OWLT Market.
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