Mixed trend in rubber market

Print this page Posted on : 12-31-2011 by recycleinme.com

Spot rubber finished unchanged on Friday. The commodity lost its direction as it failed to improve tracking the marginal higher rates in the domestic futures on the National Multi Commodity Exchange (NMCE). There were no fresh factors in the market to boost the sentiments and traders were either inactive or hesitant to enlarge their commitments to be in the safer side during the weekend sessions. The trend was partially mixed.

Sheet rubber closed flat at Rs. 195a kg according to traders. The grade weakened to Rs. 197.50 (198.00) a kg both at Kottayam and Kochi, as quoted by the Rubber Board.

The January series slipped to Rs. 198.75 (199.53), February to Rs. 201.25 (201.83), March to Rs. 204.00 (204.68), April to Rs. 209.49 (210.00), May to Rs. 210.55 (210.70) and June to Rs. 209.00 (209.50) a kg for RSS 4 on the NMCE.

RSS 3 (spot) dropped to Rs. 178.62 (179.25) per kg at Bangkok. The January futures moved down to ? 246.0 (Rs 169.27) from ? 247.6 a kg during the day session but then bounced back to ? 250.0 (Rs 171.95) in the night session on the Tokyo Commodity Exchange.

Spot rubber rates/kg were: RSS-4: 195 (195); RSS-5: 192.50 (192); Ungraded: 183 (183); ISNR 20: 189 (189) and Latex 60 per cent: 108 (108)

Source : Business Line