Shortage props up spot rubber

Print this page Posted on : 06-27-2008 by recycleinme.com

Physical rubber prices improved further on Thursday. RSS 4 closed firm at Rs 128 against Rs 127.50 a kg on covering purchases. The transactions were low.The market seemed to be experiencing the shortage of raw material once again as south-west monsoon began to strengthen all over the plantation areas. The absence of major manufacturers on the buyers side and the slip in global indices were the dominating factors restricting the day's price movements.

July futures weak

RSS 3 weakened at its July futures to ¥342.3 (Rs 135.65) from ¥343.5, August to ¥342.9 (¥344.1), September to ¥343.5 (£345.2), October to ¥344.1 (¥346.0), November to ¥345.5 (¥346.9) and December to ¥347.9 (¥349.7) a kg at TOCOM. The grade moved down to Rs 139.65 from Rs.140.08 a kg at Bangkok. The per kg spot prices were:RSS-4 : 128 (127.50); RSS-5 : 125.50 (125); ungraded : 124 (123); ISNR 20 : 127 (126) and latex 60% : 86.50 ( 86).

Source : Business Line