Spot rubber stays firm
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Physical rubber market ruled firm on Monday. Traders were still optimistic on the commodity expecting revised quotes from the major consuming sector as the international prices ruled much above the domestic rates. The inflow was much low and the market suffered from acute short supply. RSS 4 improved to Rs 118 from Rs 117 a kg and the sentiments were visibly bullish on strong demand. "We expect the market to remain firm in near term riding on strong fundamentals though there would be healthy gap between the national and international prices. There was a time when the average grower had been totally ignorant about the global price movements. Things are quite different now'', said Mr. George Mathew, a planter.
Global price
In the international scene, RSS 3 improved marginally at it's May contract to ¥308 (Rs 125.06) from ¥306.9 a kg while the June futures slipped to ¥308.8 (Rs 125.51) from ¥309 a kg at TOCOM. The grade (spot) closed at Rs 123.31 a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 118 (117); RSS-5: 115.50 (115); ungraded: 113.50 (113); ISNR 20: 114 (113) and latex 60 per cent: 81.50 (81.50).
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Source : Business Line |
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