Spot rubber recovers

Print this page Posted on : 03-26-2008 by recycleinme.com

The domestic rubber rates recovered partially on Tuesday. The market was reacting slowly to the weekend covering purchases as Japanese futures finished higher following Yen's weakness against dollar. RSS 3 improved at its April futures to ¥269.8 (Rs 107.66) from ¥263 a kg at TOCOM. The grade's spot slipped to Rs 111.03 (111.52) a kg at Bangkok. In the physical front RSS 4 firmed up by 50 paise to Rs 102 a kg at Kottayam while the grade weakened by 50 paise to Rs 101.50 a kg at Kochi. The trend was mixed as RSS 5 and ungraded rubber finished steady amidst low demand.

Futures improve

The April futures for RSS 4 improved to Rs 102.40 (101.26), May toRs 104.55 (103.14), June to Rs 105.69 (104.35) and July to Rs 105.62 (104.57) per kg on NMCE. The April futures ended at Rs 102.70 (102.02) a kg on MCX. The open interest was 3,979 (4,011) tonnes with 1,945 (2,059) tonnes in April, 1,262 (1,179) tonnes in May, 602 (619) tonnes in June and 170 (154) tonnes in July on NMCE. The volumes fell to 1,208 (1,761) lots. Spot prices were (Rs/kg): RSS-4: 102 (101.50); RSS-5: 100 (100); ungraded: 97 (96.50); ISNR 20: 98.50 (98.50) and latex 60 per cent: 69.50 (69.50).

Source : Business Line