Spot rubber rules firm

Print this page Posted on : 06-26-2008 by recycleinme.com

The rubber market ruled firm on Wednesday. Intensified monsoon rains seemed to be one of the factors which influenced the day's sentiments to keep the prices green. RSS 4 improved to Rs 127.50 from Rs 127 a kg as covering groups remained active on the grade. The volumes were low.

"It appeared to be a positive signal that a leading non-tyre company procured sheet rubber up to Rs 127 a kg during the previous session,'' an observer said. "We expect more buyers to join the queue soon as latex production is expected to fall considerably during the rainy season .''

July futures flat

On TOCOM, the July futures finished flat at ¥343.5 (Rs 135.98) against ¥343.5 a kg, while the August futures improved marginally to ¥344.1 (¥343.7) September to ¥345.2 (¥343.9), October to ¥346.0 (¥344.5), November to ¥346.9 (¥346.2) and December to ¥349.7 (¥345) a kg for RSS 3. But the grade's spot slipped to Rs 140.08 (Rs 140.67) a kg at Bangkok. Spot prices (Rs a kg) were: RSS-4 : 127.50 (127); RSS-5: 125 (124.50); ungraded : 123 (122.50); ISNR 20: 126 (125.50) and latex 60%: 86 ( 86).

Source : Business Line