MUMBAI – Following are highlights from trading in rubber market today: June contract on the Indian Commodity Exchange closed 0.7% higher at 12,113 rupees per 100 kg.
–In spot markets of Kerala, the widely-traded RRS-4 variety was quoted at 117-118 rupees per kg, up 0.50 rupees from the previous close, Rubber Board data showed.
–On the Tokyo Commodity Exchange, the November contract closed 0.2% lower at 154.1 yen (about 108.04 rupees) per kg.
* Prices of natural rubber rose in Kerala due to improved demand from some auto units, which restarted operations, traders said.
* India may impose anti-dumping duty on imports of a certain type of rubber used in various industries, further boosting sentiment, said C.J.Augustine, owner of Kerala-based Chettiparambil Traders.
* The domestic industry has approached the commerce ministry to investigate the alleged dumping of the product from China, the European Union, Japan, and Russia.
* However, a decline in benchmark rubber contracts on TOCOM capped the gains on the domestic bourse. On TOCOM, rubber contracts ended a tad lower as demand outlook remains weak, analysts said.
* The Association of Natural Rubber Producing Countries said global demand in 2020 is seen over 5% lower on year at 13.01 mln tn. End
Source: Cogencis.com