Rubber futures top Rs.100 /kg on NMCE
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Physical rubber prices showed a mixed trend on Friday. Most of the sellers sidelined the market expecting the resumption of the rains while buyers stayed back waiting for the arrivals to improve following a favourable turn in weather during the past few days. RSS 4 moved up to Rs.98 and Rs.98.50 a kg respectively at Kottayam and Kochi from Rs.97.50 accumulating strength from a better closing of RSS 3 (spot) to Rs.99.50 (98.91) a kg at Bangkok.
But the December futures for the grade was weak at 289.7 yen (Rs.99.50) against 290.6 yen a kg at TOCOM.
WEATHER OUTLOOK
The weather predictions seemed to be the major influence behind the current up trend. On NMCE, the November contract flared up to Rs.100 (98.52), December to Rs.100.50 (99.05), January to Rs.101.89 (99.89) and February to Rs.102.85 (100.89) per kg for RSS 4. The November contract was firm at Rs.99.65 against Rs.99.01 a kg on MCX. The open interest on NMCE was 4,469 (4,399) lots with 1,029 (1,108) lots in November, 1,637(1,585) lots in December, 1,057(1,006) lots in January and 746 (700) lots in February.
Spot prices were (Rs./kg): RSS-4: 98(97.50)l RSS-5: 95(95); ungraded : 93(92.75); ISNR 20: 93.50 (93.50) and latex 60 per cent: 63.50 (63.50).
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Source : Business Line |
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