Spot rubber prices improve

Print this page Posted on : 02-03-2010 by recycleinme.com

Kottayam, Feb. 2

Spot rubber rates improved on Tuesday. Moderate gains in the domestic rubber futures and positive reports from most of the leading international markets catalysed the sentiments. Sheet rubber firmed up smartly to Rs 134 from Rs 132 a kg on fresh buying coupled with short covering. The market made all-round gains with improved volumes though major manufacturers were reported to be inactive.

The February futures for RSS 4 bounced back to Rs 135.90 (133.65), March to Rs 138.70 (135.99), April to Rs 142.63 (139.55) and May to Rs 144.90 (141.62) a kg on National Multi Commodity Exchange (NMCE). RSS 3 was firm at Rs 141 (140.03) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) slipped further to Rs 140.94 (141.27) a kg at Bangkok. The February futures for RSS 3 improved to ?270 (?264.5) (Rs 137.52), March to ?270 (?265.3), April to ?273.7 (?267.1) and May to ?276.9 (?270.3 a kg during the day session on Tokyo Commodity Exchange.

Spot rates were (Rs/kg): RSS-4: 134 (132); RSS-5: 130 (129); ungraded: 128 (127); ISNR 20: 130.50 (129) and latex 60 per cent: 89.50 (89).

Source : Business Line