Global natural rubber prices may remain under pressure on weak China and Euro zone manufacturing data which has prompted the traders to adopt a wait and see attitude.
With the weak manufacturing report from the two leading global rubber markets suggests lower demand form tyre manufacturers. But the lower rubber production due to unfavourable weather in the world s three leading rubber exporters Thailand Indonesia and Malaysia likely to restrict price drop.
Meanwhile demand from the third largest economy India is likely to dominate the global rubber demand as the country is expected to experience a shortage of roughly 100,000 tons for the current year. According to the Indonesia's Ministry of Agriculture and Rural Development has forecast that the rubber exports is likely to hit record of 882,000 tons this year against the annual target of 830,000 tons and mainly to India and China.
In Tokyo Commodity Exchange (TOCOM) the rubber for March delivery traded down 0.2 yen to 310 yen per kg on Monday. While In India's National Multi Commodity Exchange (NMCE) rubber for April delivery traded at Rs 20 086 per ton on 26th March.
