Spot rubber rules weak

Print this page Posted on : 02-09-2010 by recycleinme.com

Kottayam, Feb. 8

The physical rubber prices weakened on Monday. The absence of major consuming industries in the buyers queue seemed to be putting pressure on the sentiments as the domestic rubber futures also moved down failing to hold on to the previous weekend closing levels on early trades. But a late recovery on NMCE failed to strengthen the spot prices and sheet rubber slipped to Rs 132.50 from Rs 133 a kg on buyer resistance. There was no selling pressure in the market and the transactions were in a low key.

The February futures improved to Rs 132.52 (132.19), March to Rs 135 (134.44), April to Rs 138.80 (138.14) and May to Rs 141.65 (140.82) a kg for RSS 4 on National Multi Commodity Exchange (NMCE). RSS 3 firmed up to Rs 139.08 (138.14) a kg on Singapore Commodity Exchange (SICOM). It closed at Rs 139.92 a kg at Bangkok. The February futures weakened to ¥258.5 (¥259) (Rs 135.32), March to ¥259 (¥262.2), April to ¥260.4 (¥262.7), May to ¥262.1 (¥265.6), June to ¥264.5 (¥266.3) and July to ¥266.6 (¥268) a kg for RSS 3 during the day session on Tokyo Commodity Exchange (TOCOM). The February futures recovered to ¥261 (Rs.136.65), March to ¥262.7, April to ¥264, May to ¥265.7, June to ¥268 and July to ¥270.3 a kg during the night session.

Spot prices were (Rs/kg): RSS-4: 132.50 (133); RSS-5: 130 (131); ungraded: 127.50 (128); ISNR 20: 130 (131) and latex 60 per cent: 89 (89).

Source : Business Line