Spot rubber rules steady
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Rubber prices finished almost steady on Monday. The only gainer of the day was RSS 4 which improved by 50 paise to Rs 85.50 from Rs 85 a kg followed by short covering at lower levels. The sentiments were led by the gains in global indices but there were no enquiries from the tyre sector above Rs 85 a kg for sheet rubber.
Futures firm
Rubber futures on the Tokyo Commodity Exchange opened firm on short covering coupled with fresh buying. The market maintained the morning gains during the whole session and the six contracts including the spot month November finished in the positive zone catalysed by the gains in oil and precious metals futures. RSS 3 (spot) moved up to Rs 88.22 (87.07) a kg at Bangkok. In futures, the grade improved further at its November contract to ¥177.3 (Rs 84.49) from ¥168.9, December to ¥177.8 (171.4), January to ¥181.2 (175.8), February to ¥184.8 (178.1), March to ¥187.9 (181.2) and April to ¥190.4 (183.9) a kg on TOCOM. Spot rates were (Rs/kg): RSS-4: 85.50 (85); RSS-5: 82.50 (82.50); ungraded: 80 (80); ISNR 20: 81 (81) and latex 60 per cent: 58.50 (58.50).
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Source : Business Line |
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