Rubber Report - Jan 19, 2015 : Geofin Comtrade
Transcription
Rubber Report - Jan 19, 2015 : Geofin Comtrade
GeofinComtrade Ltd. Geojit BNP Paribas Bldg, 10th Floor, 34/659-P, Civil Line Road, Padivattom. Kochi-682 024 Kerala Phone: 91 484 2901058 Email: [email protected] [email protected] Geofin Research Desk, Kochi Anu V Pai Analyst Monday, January 19, 2015 Rubber Report MCX Member code: 40220 FMC No.: MCX/TCM/CORP/1710 NCDEX Member code : 00920 FMCNo.:NCDEX/TCM/CORP/0895 A Daily Report on Natural Rubber NMCE Member code: CL0324 FMC No.: NMCE/TCM/CORP/0245 OPENING SIGNALS ACE Member code: 6192 FMC No: ACEL/TCM/CORP/0429 Commodity Disclaimer: Trading/investing in Commodity Derivatives involves considerable risk you may lose part or all of the initial investment. It is not ideal for all types of investors, and you are advised to seek professional assistance before the same. Past performance may not necessarily be repeated in the future. The news and views posted on this report is based on information which is believed to be accurate. This report is provided to enable you to make your own Last Price % Chg Nymex Crude Oil ($/bbl) 48.30 -0.39 Tokyo Commodity Exchange Rubber(Y/kg) 194.4 0.73 Agricultural Futures Exchange of Thailand Rubber(TBH/kg) 54.60 -0.05 Shanghai Futures Exchange Rubber(CNY/ton) 12725 0.35 investment decisions and should not be construed as investment advice. The anticipatory moves mentioned in the report are purely subject to technical studies and does not take into consideration sudden currency volatility and data events. The author, directors and/or employees of GeofinComtrade cannot be held responsible for the accuracy Currency % Chg USD/INR 61.6700 -0.32 USD/ JPY 117.03 -0.48 of the content posted on this report or for decisions taken by the readers based on such information Last Price * LTP: Last traded price at 9:23 am IST. RUBBER REPORT January 19, 2015 MARKET COMMENTARY ⊳Last week saw natural rubber in the Indian market slumping to its lowest level in four weeks. On NMCE, the most active February rubber futures posted losses for the second successive week dragged down by weakness in the overseas natural rubber market and lacklusture local demand. RSS4 was quoted lower in the physical market too and ended around Rs.118 a kg compared to Rs.124 quoted a week earlier. ⊳ A rebound is being witnessed in natural rubber in the international market as the week’s session commences. TOCOM rubber futures gained nearly one per cent backed by a weaker yen. However, caution prevailed in the market ahead of the release of the key economic data releases from the top consumer China. MARKET NEWS ⊳Rubber inventories in the warehouses monitored by SHFE rose 5.7 per cent to 160297 tonnes last week. ⊳ Ivory Coast's natural rubber output for 2014 reached 311,429 tonnes, exceeding a forecast of 296,456 tonnes, the head of the natural rubber association said. ⊳Kerala Chief Minister and Opposition Leader submitted a memorandum before the Prime Minister, urging the latter to take necessary steps to solve the problems faced by rubber sector. ⊳According to International Rubber Study Group, global production of natural rubber is to exceed consumption by 77,000 mt this year before narrowing to 51,000 mt in 2016. ⊳China has approved a new standard for compound rubber that reduces the amount of natural rubber allowed in the formula. The new standard, which will cap natural rubber content in the compound to 88 per cent, down from 95-99.5 per cent previously, will be implemented on 01 July. ⊳According to International Rubber Study Group, global natural rubber demand in 2015 is anticipated to increase 3.1 per cent to 12.3 million tonnes. ⊳Thai Prime Minister says government trying to boost natural rubber prices to 65 baht a kg without providing details on ways to prop-up prices. ⊳Natural rubber production in India tumbled 36 per cent in December to 63000 tonnes on YoY basis. Consumption declined as well by 1.8 per cent to 83500 tonnes while imports rose 8.0 per cent during the same time. ⊳Crude rubber inventories at Japanese ports stood at 12,987 tonnes as of Dec. 20, up 15.1 pct from 10 days earlier, data from the Rubber Trade Association of Japan showed. ⊳According to Union Commerce Minister the period for the export of rubber imported under the advanced licensing system has been reduced to six months from the earlier 18 months. TECHNICAL COMMENTRY RUBBER Feb NMCE While there exist weakens, the pullback being witness after taking support at 11625 is likely to continue towards 12100 or more if it clears the immediate resistance of 11930. A direct fall below 11620 will see a selloff to 11580/11480. GEOFIN RESEARCH DESK | www.geofin.co.in SUPPORTS 11360/11200 11580/11480 11730-11620 TURNAROUND LEVEL 12300-1193011620 RESISTANCES 11930/12020 12100/12320 12450/12550 RUBBER REPORT January 19, 2015 ARBITRAGE WINDOW Across Domestic and International Market Kottayam RSS4 Spot Price: Rs.125.60/kg Latex (drc 60%):Rs.78.20/kg (Rubber Board Rates) Contract Feb-15 Open 11860 High 11860 NMCE RUBBER FUTURES Low Last % Chg Vol 11625 11794 -0.86 1266 Mar-15 11926 11930 11715 11880 -0.93 Apr-15 11967 12030 11967 11999 May-15 - - - - ▲ Vol -158 OI 1272 ▲OI -38 910 360 744 77 -1.23 4 0 8 1 - - - - - SPREAD Feb-15 Spot Close (Rs/kg) Chg 766 680 561 - Bangkok(RSS3) Spot 104.66 -0.99 0 -86 -205 - Malaysia(SMR20) Spot 86.43 0.09 0 -119 - AFET(RSS3)Aug 15 103.34 -0.66 0 - Tocom(RSS3)Jun 15 101.35 -1.69 - Shanghai(RSS3) May 15 125.53 0.69 Feb-15 Mar-15 INTERNATIONAL RUBBER PRICES (in Rs.) Mar-15 Apr-15 Apr-15 May-15 May-15 Orgin SPREAD VALID WAREHOUSE RECEIPTS and OI Domestic and International NR Prices (NMCE) 10.00 5000 3000 Bangkok --20.94 -70.00 Malaysia --39.17 Valid WH Receipts Total OI PVO ANALYSIS (NMCE Feb) 13500 3000 13000 2500 13200 13000 12800 12600 12400 12200 12000 11800 11600 11400 11200 11000 Price 2000 12500 Volume & OI Price in Rs/100kg NMCE FUTURES v/s SPOT 1500 12000 1000 11500 500 NMCE GEOFIN RESEARCH DESK | www.geofin.co.in SPOT Vol OI Jan-15 Jan-15 Jan-15 Jan-15 Jan-15 Jan-15 Dec-14 Dec-14 Dec-14 Dec-14 Nov-14Nov-14Nov-14Dec-14Dec-14Dec-14Jan-15Jan-15 Dec-14 0 11000 Dec-14 -60.00 Nov-14 0 Oct-14 -50.00 Sep-14 1000 May-14 -40.00 Aug-14 2000 Jul-14 -30.00 4000 Jun-14 Dec-14 Sep-14 Jun-14 Mar-14 Dec-13 -20.00 Sep-13 -10.00 Jun-13 0.00 OI/WH Receipts 6000 Spread(in Rs.) 20.00 Close Date RUBBER REPORT January 19, 2015 WEATHER Daily Weather: Kerala (Source: IMD) SUMMARY: Rain occurred at isolated places in Kerala. Dry weather prevailed over Lakshadweep. Minimum temperature rose appreciably in Kottayam district, rose in Alappuzha, Ernakulam, Malappuram, Kollam & Thrissur districts, was appreciably above normal in Alappuzha & Kottayam districts, above normal in Ernakulam & Palakkad districts and changed little in the remaining districts. Punalur & Karipur Airport recorded the lowest minimum temperature of 220C. WEATHER FORECAST FOR 3 DAYS# UPTO 0830 HOURS IST OF 21ST JANUARY 2015: Dry weather will prevail over Kerala and Lakshadweep. WEATHER WARNING FOR 3 DAYS: 18TH January 2015 (Day 1): No weather warning. 19TH January 2015 (Day 2): No weather warning. 20TH January 2015 (Day 3): No weather warning. WEATHER OUTLOOK FOR SUBSEQUENT 4 DAYS# FROM 21/01/2015 TO 0830 HOURS IST OF 25/01/2015: No significant change. (Source: IMD) HOLIDAY CALENDAR Month/Year Date JANUARY 2015 26 Exchange/Country Occasion/Event NMCE Republic Day MALAYSIA Federal Territory Day/Thaipusam 11 TOCOM National Foundation Day 17 NMCE Mahashivratri 18 to 24 SHFE Spring Festival 19 INDONESIA Chinese New Year 19 & 20 MALAYSIA Chinese New Year 1 to 3 FEBRUARY 2015 GEOFIN RESEARCH DESK | www.geofin.co.in RUBBER REPORT January 19, 2015 Geofin Research Team, Kochi Phone: 91 484 290 1058/1059 91 484 3202393 Mobile: 91 9388 465 650 Email: [email protected] Hareesh V Head of Commodity Research [email protected] Krishnaprasad NB Analyst [email protected] Vinod T. P. Analyst [email protected] Abraham Francis Analyst [email protected] Anu V Pai Analyst [email protected] VishidhaVijayakumar Analyst [email protected] This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from GeofinComtrade Ltd. GEOFIN RESEARCH DESK | www.geofin.co.in