Spot rubber up a tad
Kottayam |
Updated on
×
Aravindan Spot rubber ended the week on a positive note on Friday. “The wide gap between the minimum support price (MSP) of RSS4 and its market price prompted certain companies and covering buyers to procure the raw material during the last couple of sessions,” a trader said. Soaring crude oil prices and yet another firm closing in Bangkok spot also added fuel to the current recovery in the market.
RSS4 firmed up to ₹167.00 (165.00) per kg, according to traders and the Rubber Board. The grade improved to ₹162.00 (160.00) per kg, said dealers. The trend was mixed as ISNR20 and latex closed unchanged, while the overall volumes continued to remain low.
China ramps up tin exports as rest of the world runs dry
The super-squeeze in the tin market rolls on.
The London Metal Exchange (LME) three-month tin price CMSN3 is hovering just below February’s 10-year high of $27,500 per tonne, last trading at $27,135.
LME time-spreads remain acutely stressed. Cash tin closed on Monday valued at $28,250, commanding a $1,200-per tonne premium over three-month metal. The backwardation has been wider, flexing out to $6,500 in February, but is still extreme by any historical yardstick.
Step away from the LME paper market into the physical arena and things get even uglier with Fastmarkets lifting its premium assessments to record levels of up to $2,000 per tonne over LME cash.
Spot rubber witnesses moderate recovery
Kottayam |
Updated on
×
Aravindan Spot rubber continued to rule firm catalysed by a moderate recovery in overseas markets on Thursday.
RSS4 improved to ₹165.00 (164.00) per kg according to traders and the Rubber Board. The grade firmed up to ₹160.00 (159.00) per kg as per Dealers. The trend was mixed as ISNR20 and Latex closed unchanged amid dull trades.
In futures, the near month May delivery was up 1.47 per cent from Wednesday’s settlement price to close at ₹167.90 per kg with a volume of 33 lots on the Multi Commodity Exchange (MCX).
RSS 3 (spot) improved to ₹165.61 (164.28) per kg at Bangkok. The most active natural rubber contract for September delivery was up 220 Yuan (₹2,518.72) from previous day’s settlement price to close at 14,030 Yuan (₹160,667.24) a tonne in day time trading on Shanghai Futures Exchange (ShFE).
Grispb/Adobe Stock
When the largest aluminum producer on earth keeps reporting high import figures, the world sits up and takes note.
According to figures released by the Chinese General Administration of Customs a few days ago, China recorded a new high for aluminum imports in March 2021.
Stop obsessing about the actual forecasted aluminum price. It’s more important to spot the trend.
China aluminum imports surge in March
Imports went up 40.8% from February 2021, taking first quarter imports to a total of 661,517 tons. The quarterly total marked an increase of 118.8% from the same period in 2020.
China has been on this aluminum importing spree since July 2020. China’s aluminum imports last year, including primary aluminum and unwrought alloy, surpassed the previous annual record set in 2009.