Spot rubber gains on supply concern

Print this page Posted on : 07-23-2010 by recycleinme.com

Aravindan Kottayam, July 22 Spot rubber prices turned better on Thursday. The undercurrent was firm on supply concerns but the prices failed to reach the expected levels as futures failed to hold on to early gains on the National Multi Commodity Exchange. Sheet rubber improved to Rs 181 from Rs 180 a kg, while the trend was mixed as ungraded rubber and latex ended flat. Rubber futures declined on the NMCE. The August series weakened to Rs 177.70 (179.49), September to Rs 163.80 (166.38), October to Rs 159.01 (160.75) and November to Rs 159 (161.06) a kg for RSS 4. RSS 3 improved with the July futures rising to ¥357.2\Rs 193.88 (¥352) while its August futures weakened to ¥284.7 (¥292.9), September to ¥273.9 (¥280.8), October to ¥260.2 (¥266.5), November to ¥256.9 (¥263.6) and December to ¥257.3 (¥263.5) a kg during the day session on the Tokyo Commodity Exchange. RSS 3 (spot) slipped to Rs 152.07 (153.03) a kg at Bangkok. Spot rates were (RS/kg): RSS-4: 181 (180); RSS-5: 176.50 (175); ungraded: 170 (170); ISNR 20: 160 (159) and latex 60 per cent: 125 (125).

Source : Business Line