Spot rubber closes flat
|
|
|
Spot rubber finished almost steady on Wednesday. Though the international indices were extremely bearish, strengthening north-east monsoon and the absence of sellers at lower levels helped the market to sustain at the prevailing levels. RSS 4 closed unchanged at Rs 86 a kg as on Tuesday. According to observers, ungraded rubber firmed up on renewed buying interest while sheet rubber survived the day on short covering.
The rubber futures on the Tokyo Commodity Exchange were hit badly by another dip in oil futures and gains in yen against dollar. All six contracts slipped in to life time lows on early trades but recovered partially on late trading as sentiments improved slightly in the afternoon.
Futures decline
RSS 3 (spot) fell further to Rs 89.57 (95.74) a kg at Bangkok. The grade declined at its October contract to ¥178 (Rs 85.13) from ¥193, November to ¥178.1 (¥193), December to ¥177.8 (¥192), January to ¥177.5 (¥191.9), February to ¥176.8 (¥191.4) and March to ¥178.1 (¥193.1) a kg at TOCOM. Spot rates were (Rs/kg): RSS-4: 86 (86); RSS-5: 82 (82); ungraded: 80 (78); ISNR 20: 81 (81) and latex 60 per cent: 70 (70).
|
|
|
|
Source : Business Line |
|
|
|
|
|
RecycleINme.com. All Rights Reserved
