Kochi: Rubber Board has revised downwards the production, consumption and import target for the current fiscal year for natural rubber keeping in mind the uncertainties in the global economy.
Tokyo Commodity Exchange (TOCOM) futures jumped to an about 4-month high on Tuesday, helped by growing hopes for a US-China trade deal. TOCOM's rubber contract for April delivery finished 5.8 yen, or 3.4%, higher at 177.9 yen ($1.63) per kg. It touched the highest since July 31 of 178.0 yen earlier in the session. It also marked the biggest one-day percentage leap since June 6.
China is pushing US President Donald Trump to remove more tariffs imposed in September as part of a “phase one" US-China trade deal, people familiar with the negotiations said on Monday.
The most-active rubber contract on the Shanghai futures exchange for January delivery climbed 325 yuan to finish at 12,200 yuan ($1,744) per tonne, after hitting the highest since Sept. 17 of 12,210 yuan.
The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 135.6 US cents per kg, up 2.3%.
Source Business Recorder
TOKYO (Reuters) - The U.S. dollar advanced against the yen on Tuesday thanks to growing optimism the United States and China are on the verge of reaching a preliminary agreement to scale back their bruising trade war.
TOKYO (Reuters) - Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook.
TOKYO (Reuters) - Asian shares approached their July peak on Tuesday on signs the United States and China are inching closer to a truce in their trade war and on optimism the U.S. economy is poised for solid, consumer-driven growth.
TOKYO (Reuters) - Oil prices slipped on Tuesday amid doubts over whether OPEC and other countries will continue to restrain output, edging lower after two days of gains on U.S. economic data and hopes for a Washington-Beijing trade deal.