Spot rubber prices touch Rs 115 a kg

Print this page Posted on : 11-22-2009 by recycleinme.com

Kottayam, Nov. 21

Physical rubber prices finished firm on Saturday. The undercurrent appeared extremely bullish as the market continued to move on fresh buying and short covering from traders amidst low supply. It was also rumoured that the next target is Rs 125.00 a kg for sheet rubber. The grade improved to Rs 115 from Rs 114.50 a kg. The market made all-round gains while latex finished flat on comparatively less demand.

Futures steady

The December futures closed at Rs 118.53 (118.33), January at Rs 120.77 (120.68), February at Rs 122.09 (122.14) and March at Rs 123.29 (123.53) a kg for RSS 4 on National Multi Commodity Exchange (NMCE).

Spot rates were (Rs/kg): RSS-4: 115 (114.50); RSS-5: 110 (108.50); ungraded: 108 (107); ISNR 20: 108 (107.50) and latex 60 per cent: 70 (70).

Source : Business Line