Kottayam: Rubber rates turned weak on Oct 16. Sheet rubber RSS 4 declined to Rs 84 from Rs 86 a kg on purchaser resistance. The Japanese rubber futures opened lower on heavy long liquidation followed by sharp declines in oil and precious metals futures coupled with Yen's increase against dollar. Spot prices were (Rs/kg): RSS-4: 84 (86); RSS-5: 81.50 (82); ungraded: 78 (80); ISNR 20: 79 (81) and latex 60 per cent: 67.50 (70).
Showing posts with label sheet rubber. Show all posts
Showing posts with label sheet rubber. Show all posts
Friday, October 17, 2008
Tuesday, October 7, 2008
Sheet Rubber Extremely Weak Previous - Oct 7, 2008
Kottayam: Rubber prices made heavy losses on Oct 06. Sheet rubber RSS 4 ended extremely weak at Rs 100 a kg from Rs 106 a kg on the previous weekend. Though the decline is good for the manufacturing industries, it is detrimental to the interests of the rubber plantation industry, which supports about 10 lakh small and marginal farmers in India, The grade (spot) fell to Rs 117.18 (120.05) a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 100 (106); RSS-5: 97 (104.50); ungraded: 95 (100); ISNR 20: 96 (102.50) and latex 60 per cent: 74 (76).
Saturday, January 12, 2008
Trading On Energy Exchange Help Realise Price Discovery
Hyderabad: The Indian Energy Exchange (IEX), the first exclusive bourse to trade energy that is expected to commence operations in a few months, has discounted fears that trading of the precious commodity on the bourse could make it costlier. It, in fact, would help in realising better price discovery, while marrying the short demands and short surpluses, according to Joseph Massey, Director of IEX.
Financial Technologies (India) Ltd, which promotes the Multi Commodities Exchange, holds 46 per cent in IEX. While PTC India owns 26 per cent, Tata Power, Reliance Energy and Lanco hold five per cent each.
“Learning from our commodities experience, I would say that an electronic platform seemingly integrates the existing fragmented spot markets, making India as one energy market,” he told Business Line over phone from Mumbai. In this process, it would bring in the advantages of transparency, counterparty guarantee, and anonymity resulting in better price discovery, he explained.
“The exchange derived energy prices through the transparent process would soon become far superior to the existing mechanism in energy trading. Therefore, the apprehension of price hike due to trading on a power exchange is unjustified,” Joseph Massey said. Apart from other benefits, the exchange would ensure the energy generators to focus on generation while not bothering about the trading part.
• Check out our Yearender Special
It would offer a level-playing field for sellers and buyers as it ensures anonymous trading. The Central Electric Regulatory Commission (CERC) would act as a regulator for the exchange.
“We are making efforts to make it functional in the next few months. We are also familiarizing the exchange operations to various stakeholders,” he said.
When asked about the concerns with regard to distribution, he said the exchange expected that large per cent age of trades would be intra-regional.
The fact that there was no congestion in the intra-regional transmission network would make the IEX trade seamlessly deliverable.
Financial Technologies (India) Ltd, which promotes the Multi Commodities Exchange, holds 46 per cent in IEX. While PTC India owns 26 per cent, Tata Power, Reliance Energy and Lanco hold five per cent each.
“Learning from our commodities experience, I would say that an electronic platform seemingly integrates the existing fragmented spot markets, making India as one energy market,” he told Business Line over phone from Mumbai. In this process, it would bring in the advantages of transparency, counterparty guarantee, and anonymity resulting in better price discovery, he explained.
“The exchange derived energy prices through the transparent process would soon become far superior to the existing mechanism in energy trading. Therefore, the apprehension of price hike due to trading on a power exchange is unjustified,” Joseph Massey said. Apart from other benefits, the exchange would ensure the energy generators to focus on generation while not bothering about the trading part.
• Check out our Yearender Special
It would offer a level-playing field for sellers and buyers as it ensures anonymous trading. The Central Electric Regulatory Commission (CERC) would act as a regulator for the exchange.
“We are making efforts to make it functional in the next few months. We are also familiarizing the exchange operations to various stakeholders,” he said.
When asked about the concerns with regard to distribution, he said the exchange expected that large per cent age of trades would be intra-regional.
The fact that there was no congestion in the intra-regional transmission network would make the IEX trade seamlessly deliverable.
Friday, January 11, 2008
Spot Rubber Rules Weak
Kottayam: Physical rubber ruled weak on Thursday. The sentiments were partly affected by the declines in international futures and sheet rubber moved down to Rs 94.75 and Rs 94.50 a kg from Rs 95 and Rs 95.50 a kg respectively at Kottayam and Kochi.
The trend was mixed as RSS 5 and upgraded rubber remained steady with low volumes. Major manufacturers stayed back letting the prices to cool down. RSS 3 fell at its February futures to 285.3 yen (Rs 102.06) from 289.9 yen a kg following yet another bear strike on TOCOM. The grade firmed up by 48 paise to Rs 103.58 a kg at Bangkok spot.
The January contract for RSS 4 finished at Rs 96 (96.03), February at Rs 97.20 (97.65), March at Rs 98.92 (99.24) and April at Rs 100.90 (101.43) a kg on NMCE. The January contract improved to Rs 95.50 (95.12) a kg on MCX.
The open interest was 10,249 (10,440) tonnes with 1,918 (2,145) lots in January, 4,755 (4,750) lots in February, 2,749 (2,719) lots in March and 827 (826) lots in April. The volumes totalled 1,172 (1,394) tonnes.
• Check out our Yearender Special
Spot prices were (Rs/kg): RSS-4: 94.75 (95); RSS-5: 92 (92); ungraded: 90.50 (91); ISNR 20: 91.50 (91.50) and latex 60 per cent: 61 (61).
The trend was mixed as RSS 5 and upgraded rubber remained steady with low volumes. Major manufacturers stayed back letting the prices to cool down. RSS 3 fell at its February futures to 285.3 yen (Rs 102.06) from 289.9 yen a kg following yet another bear strike on TOCOM. The grade firmed up by 48 paise to Rs 103.58 a kg at Bangkok spot.
The January contract for RSS 4 finished at Rs 96 (96.03), February at Rs 97.20 (97.65), March at Rs 98.92 (99.24) and April at Rs 100.90 (101.43) a kg on NMCE. The January contract improved to Rs 95.50 (95.12) a kg on MCX.
The open interest was 10,249 (10,440) tonnes with 1,918 (2,145) lots in January, 4,755 (4,750) lots in February, 2,749 (2,719) lots in March and 827 (826) lots in April. The volumes totalled 1,172 (1,394) tonnes.
• Check out our Yearender Special
Spot prices were (Rs/kg): RSS-4: 94.75 (95); RSS-5: 92 (92); ungraded: 90.50 (91); ISNR 20: 91.50 (91.50) and latex 60 per cent: 61 (61).
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