Sheet rubber improves on short covering

Print this page Posted on : 07-29-2010 by recycleinme.com

Kottayam, July 28

Spot rubber turned better on Wednesday. The undercurrent was firm as the market continued to suffer from short supplies. Sheet rubber improved further to Rs 185 from Rs 183.50 on fresh buying and short covering. The Rubber Board's rate was a little lower at Rs 183.50 (182.50) a kg. Latex 60 per cent fell further journey on low demand. In the international market, Tokyo rubber futures rose nearly two per cent to a two-week high but gains were restricted followed by profit-taking at higher levels. The NMCE futures finished in red though the domestic scenario remained more or less the same.

The August series for RSS 4 weakened to Rs 184.02 (184.66), September to Rs 169 (171.86), October to Rs 161.40 (161.71) and November to Rs 160.39 (160.49) a kg on the National Multi Commodity Exchange. The volumes totalled 10468 lots and turnover 187.94 crores. The total open interest in all series was 5540 lots. RSS 3 improved at its August futures to ¥297.4/Rs 158.33 (¥293.5) during the day session and to ¥299(Rs 159.23) a kg during the night session on the Tokyo Commodity Exchange. The grade closed at Rs 149.04 a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 185 (183.50); RSS-5: 179 (178); ungraded: 169 (168); ISNR 20: 157 (156.50) and latex 60 per cent: 111 (112).

Source : Business Line