JAKARTA, Nov 6 (Reuters) - Top natural rubber producers Thailand, Indonesia and Malaysia forecast an 800,000-tonne drop in output this year, the International Tripartite Rubber Council (ITRC), which represents the three, said on Wednesday.
NEW YORK (Reuters) - The U.S. dollar and crude prices rose on Tuesday, spurred by optimism that a U.S.-China trade deal may be near, but a rally in global equity markets paused after China pressed U.S. President Donald Trump to remove recently imposed tariffs.
TOKYO (Reuters) - The dollar held the upper hand against its rivals on Wednesday, particularly versus traditional safe-haven currencies, on rising hopes for a U.S.-China trade deal and a string of solid U.S. economic data.
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.