Spot rubber moves up on global cues
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Spot rubber rates moved up catalysed by another bright closing in global indices on Tuesday. RSS 4 improved to Rs 118.50 a kg from Rs 118 as covering groups and purchase agents were fairly active on the grade. There were no revised quotes from the major manufactures. "The market is poised to explore new highs. There is much difference between domestic and international rubber and traders would possibly feel more safe to be in the buyers queue '' an analyst told Business Line. "Since growers are more conscious about the global price charts, the market might not witness any panic selling during intermediate corrections '' he added. RSS 3 firmed up to Rs 124.58 (123.31) a kg (spot) at Bangkok.
May futures up
The May contract flared up to ¥314.4 (Rs 127.88) from ¥308 a kg while the grade's June futures closed higher at ¥314.6 (Rs 127.96) against ¥308.8 a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 118.50 (118); RSS-5: 116 (115.50); ungraded: 114.50 (113.50); ISNR 20: 114.50 (114) and latex 60 per cent: 81.50 (81.50).
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Source : Business Line |
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