Spot rubber improves on demand

Print this page Posted on : 06-25-2008 by recycleinme.com

The physical rubber prices improved further on Tuesday. Strong Bangkok rates and the absence of quantity sellers kept the market mood bullish during the session though Japanese futures were in a corrective phase. RSS 4 firmed up to Rs 127 from Rs 126 a kg on better demand. A major buyer from the non-tyre sector procured sheet rubber at the quoted levels, sources confirmed. The tyre companies continued to stay back with their quotes much below the traded levels.

"We are so desperate to see that the leading consuming industries are hesitant to enhance their quotes though the international prices rule much above the domestic rates,'' a grower said.

TOCOM MIXED

The rubber futures showed a mixed mood on TOCOM. The June contract slipped to ¥338.2 (Rs 134.60) from ¥342.1, July to ¥343.5 (344.3), August to ¥343.7 (344.1) and September to ¥343.9 (344.7) a kg while the October futures inched up to ¥344.5 (344.2) and November to ¥346.2 (345) a kg for RSS 3. The grade improved to Rs 140.67 (139.49) a kg at Bangkok. Spot prices (Rs a kg) were RSS-4: 127 (126), RSS-5: 124.50 (124), ungraded: 122.50 (121.50), ISNR 20: 125.50 (125) and latex 60 per cent: 86 (86).

Source : Business Line