Spot rubber improves on global cues

Print this page Posted on : 01-20-2010 by recycleinme.com

Aravindan

Kottayam, Jan. 19

Spot rubber prices strengthened on Tuesday. According to sources, the prices improved in tune with the gains in the international markets though the domestic futures were sluggish on NMCE. Sheet rubber moved up marginally to Rs 139.50 from Rs 139 a kg on covering purchases. Sellers stayed away as arrivals continued to be low. There were no fresh enquiries from the tyre sector and the trend appeared mixed as RSS 5 closed unchanged amidst thin volumes.

The February futures for RSS 4 weakened to Rs 142.85 (143.53), March to Rs 145.50 (146.41), April to Rs 149.49 (150.09) and May to Rs 152.60 (153.39) a kg on National Multi Commodity Exchange (NMCE). On the Tokyo Commodity Exchange, RSS 3 improved with the January futures rising to ¥291.7 (¥286.5) (Rs 147.20), February to ¥289.3 (¥287.6) and March to ¥291.2 (¥288) a kg during the day session. RSS 3 increased to Rs 144.61 (144.02) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 145.50 (143.44) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 139.50 (139); RSS-5: 133.50 (133.50); ungraded: 130 (129.50); ISNR 20: 133.50 (133) and latex 60 per cent: 91 (90).

Source : Business Line