Spot rubber improves on covering groups
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Spot prices turned better on Monday. Sheet rubber improved to Rs.90 from Rs.89 and Rs.89.50 a kg respectively at Kottayam and Kochi as a leading tyre company came forward to procure the grade up to the quoted level. Covering groups and purchase agents were active once again following the re-entry of major manufacturers after a gap. The market made all-round gains on better demand.
FUTURES GAIN
The rubber futures moved up on NMCE. The October contract improved to Rs.89.15 (88.30), November to Rs.86.40 (86.02), December to Rs.86.45 (86.03) and January to Rs.87 (86.42) a kg for RSS 4. Spot prices were (Rs./kg) : RSS-4 : 90 (89); RSS-5: 87.50 (87); ungraded : 85(84); ISNT 20: 86.50 (86) and latex 60 per cent : 61.55 (60.50)
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Source : Business Line |
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