IRCo's DCP gained 7.11 US cents/kg during the week due to the influence of the rise in crude oil futures, while rubber futures on Shanghai Future Exchange and Tokyo Commodity Exchange also broke new records on the back of firm market fundamentals because consumers were still worried about supply tightness caused by persistent heavy rains in producing countries, especially in Southern Thailand.
The rises in the Japanese yen and regional currencies against the U.S. dollar did not have much negative impact on rubber market sentiment during the week. On the contrary, the strengthening regional currencies were boosting NR consumption in these countries, especially in China, because of cheaper prices of imported natural rubber.
However, the current political disputes among the U.S., China, and Japan cannot be ruled out because they can slow down a global economic recovery.
(irco.biz)
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