RCo's DCP still stayed above 400 US cents/kg as well as rubber prices on both physical and futures markets during the week despite there was a sudden fall in rubber prices and crude oil futures on Friday in the wake of concerns that Beijing might increase interest rates to pull down inflation in the country as its consumer price index (CPI) rose to 4.4% from a year earlier in October, together with seemingly overdone technical charts on rubber futures.
Nonetheless, a fall in rubber futures will be short-lived because it still rains in rubber planted areas, especially southern Thailand, Indonesia, and Malaysia at the present time, and it will extend into the coming week. At the same time, natural rubber imports to the biggest consumer, China, in October rose 60% to 160,000 tons compared with the same month last year. In the January - October period, its imports rose 6.2% to 1.5 million tons, according to the Chinese General Administration of Customs on 10 November 2010.
On the investment front, global stock and financial markets still moved on the back of fiscal and financial policies of the big-four global economic drivers, i.e. the U.S., China, Japan and Germany, and investors are awaiting some concrete measures that these key players compromised and pledged to work together in order to adjust and to boost an uneven global economy in the long-term after the latest G-20 Summit on 11 - 12 November in Seoul and the Asia-Pacific Economic Cooperation (APEC) Forum on 13 - 14 November in Yokohama.
(Source: http://www.irco.biz/MarketWise.php?PHPSESSID=72c7294422d73786ad940dba10900973)
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