Spot rubber gains on covering buys

Print this page Posted on : 09-03-2010 by recycleinme.com

Our Correspondent

Kottayam, Sept 2

Domestic rubber prices improved on Thursday.

In spot, the market turned better following the partial recovery in futures on the National Multi Commodity Exchange (NMCE).

Covering purchases at lower levels lifted leading grades though major consuming industries continued to stay inactive as usual.

Sheet rubber increased to Rs 163.50 from Rs 160 a kg in the main marketing centres.

The grade weakened further to Rs 163.50 (164) a kg, according to Rubber Board's Web site.

In the futures, the September series? improved? to? Rs 164.12 (162), October to Rs 163.45 (161.41), November to Rs 163.35 (161.02) and December to Rs 164.50 (161.75) a kg for RSS 4? on the NMCE.RSS 3 slipped with the September futures dropping to ?309.8/ Rs.171.95 (?309.9) a kg during the day session but closed inactive during the night session on the Tokyo Commodity Exchange. RSS 3 (spot) firmed up to Rs 161.78 (159.60) a kg at Bangkok.

Spot rates (Rs/ kg) were: RSS-4:163.50 (160); RSS-5: 157 (155); ungraded: 152 (150); ISNR-20:????? 148.50?(148); and Latex 60%: 112 (112.50).

Source : Business Line