Spot rubber gains on global cues

Print this page Posted on : 04-25-2008 by recycleinme.com

Rubber prices remained bullish on Thursday. In the physical front, RSS 4 firmed up to Rs 113 from Rs 112.50 a kg at Kottayam and Kochi as the domestic and international rubber futures ended in a positive note. The trend was mixed as RSS 5 and ISNR 20 closed flat amidst narrow volumes. The May futures for RSS 3 improved to ¥287.8 (Rs 111.40) from ¥285 a kg at TOCOM. The grade closed at 113.65 (113.38) a kg at Bangkok.

Futures gain

On NMCE, the May futures moved up sharply to Rs 114 (111.94), June to Rs 113.15 (110.95), July to Rs 110.26 (109) and August to Rs 108.98 (107.37) a kg for RSS 4.The open interest stood at 3,703 (3,482) tonnes with 1,965 (1,867) tonnes in May, 1,068 (1,006) tonnes in June, 545 (514) tonnes in July and 125 (95) tonnes in August. The volumes rose to 2,136 (1,615) lots trading 1,147 (934) lots in May, 744 (469) lots in June 181 (164) lots in July and 64 (48) lots in August.

Spot prices were (Rs/kg): RSS-4: 113 (112.50); RSS-5: 111 (111); ungraded: 109.50 (109); ISNR 20: 110 (110) and latex 60 per cent: 75 (75).

Source : Business Line