Spot rubber prices rule unchanged
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Spot rubber continued to rule unchanged on Tuesday. Traders seem to be expecting monsoon to regain strength in the days ahead during the Malayalam month 'Karkkitakam', which commences on Wednesday. Sheet rubber RSS 4 finished steady at Rs 131 a kg amidst low volumes. Major manufactures were buyers up to Rs 130 a kg for RSS 4 but they were not prepared to renew their quotes though it was really impossible for them to procure the raw material below the existing levels.
July contracts down
A weak closing in Japanese indices failed to hammer the domestic market possibly due to higher conversion rates. There were no quantity sellers even at higher levels. RSS 3 moved down at its July contract to ¥338.3 (Rs 139.19) from ¥340.8, August to ¥337.6 (339.7), September to ¥337.3 (339.6), October to ¥338.3 (341.2), November to ¥337.9 (340.3) and December to ¥338.4 (341.5) a kg at TOCOM. The grade's spot slipped by 6 paise to Rs 137.44 (137.50) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 131 (131); RSS-5: 129 (129); ungraded: 127 (127); ISNR 20: 129.25 (129.25) and latex 60 per cent: 88.50 (88.50).
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Source : Business Line |
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