Spot rubber prices improve

Print this page Posted on : 08-27-2010 by recycleinme.com

Aravindan

Kottayam, Aug 26

Spot rubber improved on Thursday. According to sources, prices ruled firm following the news that the Union Minister for Commerce and Industry, Mr Anand Sharma, has ruled out any cut in import duty of rubber from 20 per cent. The sentiments were also catalysed by the bullish international indices. In spot, sheet rubber increased further to Rs 174 from Rs 173.5 a kg on fresh buying and short covering.

The trend was mixed as ISNR 20 and latex 60 per cent finished flat amidst dull volumes. The Board's rate was firm at Rs 174 (173) a kg for RSS 4.

In futures, the September series for RSS 4 moved up to Rs 173.5 (173.05), October to Rs 168.1 (166.73), November to Rs 166.1 (165.34) and December to Rs 166 (165.72) a kg on the National Multi Commodity Exchange. RSS 3 flared up at its September futures to ¥314.3/Rs 174.22 (¥304.5) during the day session and to ¥316 (Rs 175.27) a kg during the night session on the Tokyo Commodity Exchange. The grade (spot) improved to Rs 157.64 (155.92) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 174 (173.5); RSS-5: 165 (164); ungraded: 159.5 (158); ISNR 20: 151 (151) and latex 60 per cent: 112 (112).

Source : Business Line