RCo's DCP and physical prices almost touched US$4.0 per kilogram whereas rubber futures crossed that threshold on Friday due mainly to existing natural rubber (NR) tight supply and lower NR stocks than usual in major NR producing countries caused by persisting rains and steady demand for NR from tire and non-tire manufacturers, particularly from China and India.
Torrential rains covered lower northeastern, central and southern parts of Thailand during 17 - 18 October, and the rains will extend into the coming week. Northern Sumatra of Indonesia will be covered with heavy clouds and thunderstorms while southern Sumatra will be covered with scattered thunderstorms in the coming week.
A sharp rise in the Southeast Asian currency exchange rates against the greenback is hurting exporters of these countries, and the situation will be worse if the leaders of the Southeast Asian countries don't make a concerted effort to stop the bleeding. At the same time, the White House is going to pour more money into the U.S. economy through quantitative easing measures so as to liquidate and to lower costs of financial institutions and borrowers that will boost gold and oil futures to rise further until the greenback will stop weakening.
(irco.biz)
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