Spot rubber prices pare gains

Print this page Posted on : 02-29-2008 by recycleinme.com

Domestic rubber weakened in tune with the declines in Japanese futures. In spot, sheet rubber slipped to Rs 100.50 and Rs 101 from Rs 101 and Rs 101.25 a kg respectively at Kottayam and Kochi on buyer resistance.

The prices may remain rangebound till the end of this financial year that too in tandem with the global indices and a major takeoff could be expected only during the next fiscal, an analyst said. The trend was mixed.

FUTURES DECLINE

In futures, the March contract for RSS 4 declined to Rs 100.08 ( 101.18), April to Rs 102.90 ( 104.02), May to Rs 104.47 ( 105.69) and June contract to Rs 106.50 ( 107.68) per kg on NMCE. . The volumes totalled 1,507 ( 1,047) tonnes trading 481 ( 341) tonnes in March, 656 ( 459) tonnes in April 199 ( 173) tonnes in May and 171 ( 74) tonnes in June.

Spot prices were ( Rs/ kg): RSS- 4: 100.50 ( 101); RSS- 5: 99 ( 99); ungraded: 96 ( 97); ISNR 20: 98.50 ( 98.50) and latex 60 per cent: 66 ( 66).

Source : Business Line