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IRCo’s DCP moved within a range of 2.17 US cents/kg. during the week under review and ended with a slight gain of 0.11 US cents/kg. RSS3 shed 10.73 US cents/kg. as supply picked up in Thailand. Prices for the TSR20 grades, however, remained steady in tandem with its demand.
Indian buyers were reported in the market purchasing Thai RSS3 whilst Chinese buyers were active but still asking for lower prices in expectation of improved supply.
Both the futures and equity markets recorded gains for the week reflecting positive sentiment towards indicators in the global economy. Crude oil recorded a gain of US $ 2.44 per barrel to close the week at US $ 78.98 per barrel. Regional currencies too gained against the greenback whilst the Japanese yen retreated.
(irco.biz)
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