Spot rubber prices recover

Print this page Posted on : 03-28-2008 by recycleinme.com

The domestic rubber prices turned better on Thursday. The subsided summer rains and bullish global indices inspired the covering groups to offer better quotes while the selling from dealers and growers dried up on expectations of a firm trend to succeed the current fiscal. RSS 4 improved to Rs 103 from Rs 102 a kg both at Kottayam and Kochi amidst dull volumes. RSS 3 (spot) firmed up by Rs 1.50 to Rs 111.98 a kg at Bangkok. Its April futures moved up to ¥274.6 (Rs 110.67) from ¥270.9 a kg at TOCOM.

futures improve

The April futures for RSS 4 improved to Rs 104.30 (102.75), May to Rs 106.27 (104.68), June to Rs 107.50 (105.65) and July futures to Rs 107.84 (106.10) per kg on NMCE. The volumes were better at 1,201 (956) lots trading 372 (346) lots in April, 545 (303) lots in May, 100 (129) lots in June and 184 (178) lots in July. The open interest stood at 4,184 (4,034) tonnes with 1,925 (1,911) tonnes in April, 1,430 (1,320) tonnes in May, 621 (618) tonnes in June and 208 (185) tonnes in July. Spot prices were (Rs/kg): RSS-4: 103 (102); RSS-5: 100.50 (100); ungraded: 98.50 (97); ISNR 20: 99.50 (98.50) and latex 60 per cent: 70 (69.50).

Source : Business Line