Spot rubber rules steady

Print this page Posted on : 03-27-2008 by recycleinme.com

Physical rubber rates were steady on Wednesday. The market ruled under the shadow of financial year closing lacking most active participants on either side. The signals from the domestic and global futures also were almost neutral and sheet rubber RSS 4 closed unchanged at Rs 102 a kg at Kottayam. The grade improved by 50 paise to stabilise at the same level in Kochi. The volumes were low. The April futures for RSS 3 inched up to ¥ 270.9 ( Rs 109.25) from ¥ 269.8 a kg at TOCOM. But its spot slipped by 55 paise to Rs 110.48 a kg at Bangkok.

FUTURES FIRM

Rubber was firm on NMCE. The April futures concluded the session at Rs 102.73 ( 102.55), May at Rs 104.70 ( 104.57), June at Rs 105.75 ( 105.52) and July futures at Rs 105.95 ( 105.70) per kg for RSS 4. The open interest was 4,034 ( 3,979) tonnes with 1,911 ( 1,945) tonnes in April, 1,320 ( 1,262) tonnes in May, 618 ( 602) tonnes in June and 185 ( 170) tonnes in July. The volumes fell further to 956 ( 1,208) tonnes. Spot prices were ( Rs/ kg): RSS- 4: 102 ( 102); RSS- 5: 100 ( 100); ungraded: 97 ( 97); ISNR 20: 98.50 ( 98.50) and latex 60 per cent: 69.50 ( 69.50).

Source : Business Line