Spot rubber stays static

Print this page Posted on : 02-05-2009 by recycleinme.com

The physical rubber prices showed a steady trend on Wednesday. A similar closing in domestic rubber futures and the absence of follow-up buying from major consuming industries kept the market mood neutral. Sheet rubber closed unchanged at Rs 68.50 in a rather dull trading session.

Futures mixed

The February contract for RSS 4 closed at Rs 68.86 (68.95), March at Rs 70.05 (70.02), April at Rs 71.13 (71.11) and May at Rs 72.10 (72.18) a kg on National Multi Commodity Exchange (NMCE).

Rubber futures on the Tokyo Commodity Exchange opened firm on short covering in continuation of Tuesday's positive closing. The market expanded its gains further during the morning session. RSS 3 moved up at its February contract to ¥131.4 (130) (Rs 71.99), March to ¥132.1 (130), April to ¥134.6 (132.2), May to ¥135.5 (132.9), June to ¥137.1 (134.6) and July to ¥138.1 (135.4) a kg on TOCOM. RSS 3 (spot) closed firm at Rs 73.35 (72.45) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 68.50 (68.50); RSS-5: 67.50 (67.50); ungraded: 66.25 (66.25); ISNR 20: 66.50 (66.50) and latex 60 per cent: 58 (58).

Source : Business Line