Spot rubber stays firm
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Physical rubber prices finished unchanged on Thursday. A marginal increase in the global indices failed to cheer the domestic buyers who switched over to a wait and watch policy before undertaking further commitments. There was no selling pressure in the trading floors. Sheet rubber RSS 4 closed flat at Rs 120 a kg as on the previous day. "The move to suspend the domestic futures has swallowed a minimum Rs 5-7 a kg from the growers' pocket and the ultimate gainers of this decision are the big players'', said a small planter to Business Line.'' But we are determined to learn the global markets before placing further sales orders '', he continued. RSS 3 firmed up to Rs 127.18 (127.04) a kg (spot) at Bangkok. The May contract for the grade improved to ¥316.7 (Rs 128.31) (316.2), June to ¥316.4 (316.1), July to ¥317 (316.4), August to ¥316.7 (315.6), September to ¥316.5 (316) and October to ¥316.7 (315.5) a kg at TOCOM.
Spot prices were (Rs/kg): RSS-4: 120 (120); RSS-5: 118 (118); ungraded: 115 (115); ISNR 20: 116.50 (116.50) and latex 60 pr cent: 82.50 (82.50).
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Source : Business Line |
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