Synthetic rubber consumption rose by 8% to 38,580 tonne in May 2012, while production fell marginally to 9,398 tonne, according to the Rubber Board data. The country had consumed 35,740 tonne of synthetic rubber in the same month of 2011, while the production was 9,468 tonne. The consumption by the auto tyre industry was up by 7% to 28,126 tonne in May 2012 from 26,308 tonne in May 2011. Synthetic rubber imports in May fell, however, fell by 6% to 29,602 tonne, from 31,497 tonne in the same month last year. Synthetic rubber is mostly used in the manufacture of tyres, besides in cycle tyres and tubes, footwear, belts and hoses, among other items.
Barley futures hit lower circuit
Barley prices dropped to hit daily lower level of 4% to R1,167.50 per quintal in future trading on heavy selling by traders, due to weak physical markets sentiment. Marketmen said accelerating in supply coupled against fall in demand in spot markets, mainly put weight on future price of barley in futures markets.
At the National Commodity and Derivatives Exchange, barley price for current September month dropped by R48.50, or 3.99%, to R1,167.50 per quintal, with an open interest of 12,200 lots. Most active near October month contract also went down by R32, or 2.51% to R1,244 per quintal, showing an open interest of 28,520 lots.