India rubber futures outlook - Demand for natural rubber in China, India and Malaysia

India rubber futures outlook - Demand for natural rubber in China, India and Malaysia : In India rubber futures declined this week as the market lost ground on panic selling from dealers following the sharp declines in domestic futures. In global rubber market also rubber fell as there were no buyers even at lower levels and according to observers, it was difficult to sort out the prevailing rates in certain counters. The March futures for RSS3 declined to ¥511 (Rs 282.65) from ¥515 during the day session and then to ¥495 (Rs 273.78) in the night session on the Tokyo Commodity Exchange.

At NMCE, March contract closed down by 13.56 % to Rs 21134 (High 24540) while April contract declined by 13.40% to 22039 per quintal (High 25539). Spot rates of rubber on Friday were (Rs/kg): Spot rates were (Rs/kg): RSS-4: 220; RSS-5: 216.50; ungraded: 213.50 and latex 60 per cent: 140.

Demand for natural rubber in China, India and Malaysia, which account for 48 percent of global usage, is expected to increase this year, the bulletin said. Demand in China may gain 9.1 percent to 3.6 million tons; India’s usage may gain 5 percent to 991,000 tons and consumption in Malaysia may rise 7 percent to 490,000 tons. Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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