Spot rubber tows global market, gains
December 21, 2020
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Spot rubber regained strength tracking the global gains on Monday. RSS-4 improved to ₹158 (157.50) per kg, according to traders and the Rubber Board. The grade firmed up to ₹154 (153.50), according to dealers.
The trend was mixed as ISNR20 and Latex closed unchanged amidst low volumes.
Meanwhile, crude oil prices tumbled in response to the concerns over a fast spreading new coronavirus strain in the UK. The resultant tighter restrictions in UK and other European countries can stall a recovery in the global economy, reports said.
Natural rubber futures closed higher in day time trading on Shanghai Futures Exchange (ShFE). The near month January 2021 delivery was up by 260 Yuan (₹2,934.58) to close at 14,700 Yuan (₹165,916.91) a tonne.
METALS-Copper pushes towards highest since 2013 with $8,000 in sight reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Spot rubber stays flat
December 15, 2020
India’s consumption increases amidst a drop in imports: ANRPC
Spot rubber continued to remain neutral on Tuesday. RSS 4 was quoted steady at ₹157 per kg by traders and the Rubber Board. The grade closed unchanged at ₹153 as reported by dealers. The volumes were dull.
According to the Association of Natural Rubber Producing Countries (ANRPC), India consumed 396,000 tonnes of NR during the four months from July to October 2020, by representing a 9.5 per cent increase from the same period in the previous year, as per the preliminary data. A 1.3 per cent year-over-year increase in consumption is anticipated during November and December.
By Reuters Staff
(Updates prices, recasts)
LONDON, Dec 10 (Reuters) - Nickel rose more than 4% on Thursday as resurgent demand from Chinese steel mills and a rapid rally in iron ore futures fuelled a rush of speculative buying, pushing prices above $17,500 a tonne for the first time since October 2019.
Used in stainless steel, nickel shot up just as the Shanghai Futures Exchange (ShFE) began trading at 1300 GMT, with the benchmark contract on the London Metal Exchange (LME) leaping almost $700 in around an hour to a high of $7,505.
By 1645 GMT, LME nickel was up 4.1% at $17,390.
LME copper also surged after 1300 GMT to its highest since 2013 at $7,900 a tonne before slipping to $7,879, up 2%.