Spot rubber stays steady

Print this page Posted on : 02-28-2008 by recycleinme.com

Spot rubber maintained the steady trend lacking global support on Wednesday. In the physical market, RSS 4 settled flat at Rs 101 and Rs 101.25 a kg respectively at Kottayam and Kochi as on Tuesday. The rates sustained even amidst buyer resistance as the arrivals were too low and no body seemed interested to sell the stocks since the off- season target has been projected at Rs 125 a kg for sheet rubber.

FUTURES FIRM

In domestic futures, rubber was almost steady on NMCE. The March futures was traded at Rs 101.20 ( 101.23), April at Rs 104 ( 104.02), May at Rs 106 ( 105.66) and June at Rs 107.75 ( 107.77) per kg for RSS 4. The volumes improved to 1,047 ( 941) tonnes trading 341 ( 232) tonnes in March, 459 ( 509) tonnes in April 173 ( 129) tonnes in May and 74 ( 71) tonnes in June.

Spot prices were ( Rs/ kg): RSS- 4: 101 ( 101); RSS- 5: 99 ( 99); ungraded: 97 ( 97); ISNR 20: 98.50 ( 98.50) and latex 60 per cent: 66 ( 66).

Source : Business Line