Fresh buying spurs spot rubber prices

Print this page Posted on : 02-17-2010 by recycleinme.com

Kottayam Feb. 16

The domestic rubber market showed a better trend on Tuesday. On the spot market, sheet rubber increased to Rs 138 from Rs 136 a kg on fresh buying and short covering. Smart gains on NMCE and the continuation of a favourable mood in TOCOM combined to support the prices though major manufacturers were not visibly active in the main marketing centres. Supply concerns and the absence of sellers were the other decisive factors which influenced the buyers' sentiments during the day.

The March futures for RSS 4 improved to Rs 142.99 (139.09), April to Rs 147.44 (143.15) and May futures to Rs 151 (146.69) a kg on the National Multi Commodity Exchange (NMCE). The February futures firmed up to ?276.5 (?274.5) (Rs 142.01), March to ?277.8 (?275.8), April to ?280.3 (?277.8) and May to ?282.8 (?279.8) a kg for RSS 3 during the day session on Tokyo Commodity Exchange. . RSS 3 slipped to Rs 143.71 (143.80) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 138 (136); RSS-5: 135.50 (133); ungraded: 134 (132); ISNR 20: 134 (132.50) and latex 60 per cent: 90 (89).

Source : Business Line