Spot rubber improves on global cues

Print this page Posted on : 10-21-2009 by recycleinme.com

Kottayam, Oct. 20

Spot rubber improved further on Tuesday. The prices moved up in tune with the international and domestic rubber futures and sheet rubber closed at Rs 112 from Rs 111 a kg on covering purchases. Major manufacturers continued to abstain the market while it made all-round gains amidst low supply.

Futures firm

The November futures for RSS 4 firmed up to Rs 112.20 (110.86), December to Rs 113.44 (112.18), January to Rs 115.25 (114.07) and February to Rs 116.82 (115.92) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 October futures flared up to ?225 (?217.6) (Rs 114.70), November to ?227 (?220.5), December to ?228.3 (?218.9), January to ?227.2 (?219), February to ?226 (?218.3) and March to ?226.2 (?218.8) a kg for during the day session on Tokyo Commodity Exchange (TOCOM). The October futures closed at ?223, November at ?227.5, December at ?227.5, January at ?226.4, February at ?224.9 and March at ?224.4 a kg during the night session. RSS 3 firmed up to Rs 112.37 (110.99) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) improved to Rs 110.73 (109.74) a kg at Bangkok.

Spot rates were: RSS-4: 112 (111); RSS-5: 107.50 (107); ungraded: 103 (101.50); ISNR 20: 99.50 (98.50) and latex 60 per cent: 74 (73).

Source : Business Line