Spot rubber firms up further

Print this page Posted on : 04-24-2008 by recycleinme.com

Spot rubber rates firmed up further on Wednesday. RSS 4 closed at Rs 112.50 against Rs 112 a kg at Kottayam and Kochi as covering groups turned active followed by another better closing in global futures. The domestic supply concerns kept the buyers on alert but the volumes were low lacking quantity sellers, sources said. RSS 3 was steady at Rs 113.38 a kg at Bangkok.

Futures mixed

The rubber futures showed a mixed mood on NMCE. The May futures finished at Rs 111.98 (111.73), June futures at Rs 110.98 (111.18), July at Rs 109 (108.92) and August at Rs 107.40 (107.13) a kg for RSS 4. The open interest slipped to 3,482 (3,523) tonnes with 1,867 (1,981) tonnes in May, 1,006 (1,026) tonnes in June, 514 (443) tonnes in July and 95 (73) tonnes in August. The volumes improved to 1,615 (1,303) tonnes. Spot prices were (Rs/kg): RSS-4: 112.50 (112); RSS-5: 111 (109.50); ungraded: 109 (108); ISNR 20: 110 (108.50) and latex 60 per cent: 75 (74.50).

Source : Business Line