Mixed trend in rubber

Print this page Posted on : 01-13-2010 by recycleinme.com

Aravindan

Kottayam, Jan. 12

Spot rubber witnessed a mixed mood on Tuesday. Sharp gains in the Japanese indices helped major grades to finish in the positive zone. A bearish move in the domestic futures took the steam out of the market during closing hours but sheet rubber improved to Rs 140 from Rs 139 on better demand. Volumes were limited as the major consuming industries stayed inactive though most of the players were expecting the raw material to register further highs. The undercurrent was bullish.

The January futures weakened to Rs 141.51 (143.86), February to Rs 144.42 (146.49), March to Rs 147.36 (149.40) and April to Rs 151.29 (152.85) a kg for RSS 4 on Natural Multi Commodity Exchange (NMCE). RSS 3 flared up at its January futures to ?289.5 (?281.5) (Rs 144.10), February to ?289.8 (?280.8), March to ?291.8 (?283.5), April to ?294.6 (?286.2), May to ?296.9 (?288.7) and June to ?299.9 (?291.7) a kg during the day session on Tokyo Commodity Exchange. RSS 3 (spot) closed firm at Rs 140.30 (139.84) a kg at Bangkok. The grade increased to Rs 141.05 (138.48) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 140 (139); RSS-5: 133.50 (133); ungraded: 129 (129); ISNR 20: 132.50 (132) and latex 60 per cent: 87 (87).

Source : Business Line