Spot rubber prices rule steady
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Physical rubber prices finished almost steady on Wednesday. The market activities were in a low pace lacking support from traders who preferred to keep a wait and watch policy in a bearish atmosphere.
Sheet rubber, the only gainer, improved by 50 paise to Rs.,97 a kjg at Kottayam following a recovery in the domestic and Japanese futures, possibly on short covering at lower levels. But the grade was quoted unchanged at Rs.96.50 a kg at Kochi a\on buyer resistance. In the international scene, RSS 3 improved at its December futures to 274.3 (Rs.96.78) against 272.2 a kg at TOCOM.
The grade declined sharply to Rs.98.79 from R.101.74 a kg at Bangkok spot.
FUTURES FIRM
In futures, the December contract for RSS 4 firmed up to Rs.98.60 from Rs.98.13 a kg on MCX. The November contract improved to Rs.97.25 (97.13), December to Rs.99.19 (Rs.98.30), January to Rs.100.89 (Rs..99.90) and February to Rs.102.24 (Rs.101.23) per kg on NMCE.
The per kg physical rubber prices were RSS-4: Rs.97.00 (Rs.96.50); RSS-5: Rs.94.00 (Rs.94.00); ungraded: Rs.90.50 (Rs.90.50); ISNR 20: Rs.93.00 (Rs.93.00) and latex 60 per cent : Rs.64.00 (Rs.64.00).
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Source : Business Line |
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