Commodity Outlook for Rubber by KediaCommodity

Rubber ended the week higher as heavy rains in the south of Thailand, the world’s biggest exporter, increased concerns that supply was trailing demand. The cash price gained to an all-time high. Despite high prices, demand remains strong from China, India and Japan. Global demand for natural and synthetic rubber is forecast to increase by 15.3 percent this year to 24.3 million tons, according to the International Rubber Study Group. Consumption worldwide is expected to expand by 6.3 percent next year, it said. Natural-rubber supply is estimated at 10.2 million tons this year, the group said. In yesterday's trading session Rubber has touched the low of 20825 after opening at 20940, and finally settled at 20855. For today's session market is looking to take support at 20800, a break below could see a test of 20745 and where as resistance is now likely to be seen at 20935, a move above could see prices testing 21015.

Trading Ideas:

Rubber trading range is 20745-21015.

Rubber ended the week higher as heavy rains in Thailand increased concerns about supply

Rubber weekly stocks at Shanghai exchange came up by 4801 tonnes.

Spread between Rubber JAN & FEB contracts yesterday ended at 380.00. Spread yesterday traded in the range of -265 to 430.

NMCE accredited warehouses Rubber stock rosed by 318kgs to 4438kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2299499)