Spot rubber rules steady
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Rubber rates finished unchanged on Monday. The trading activities were dull as trend setting Japanese indices turned weak followed by bull liquidation mainly on Yen’s strength against dollar. RSS 4 closed flat at Rs 131 a kg as on the previous weekend. Major manufacturers stayed on sidelines expecting the prices to cool down in tune with the global mood.
BUYER RESISTANCE
According to market circles, the domestic market sustained at the prevailing levels even amidst buyer resistance possibly due to short supply. The volumes were narrow. RSS 3 moved down at its July contract to ¥ 340.8 ( Rs 136.80) from ¥ 344.8, August to ¥ 339.7 ( 344.4), September to ¥ 339.6 ( 343.9), October to ¥ 341.2 ( 345), November to ¥ 340.3 ( 345.8) December to ¥ 341.5 ( 346.4) a kg at TOCOM. The grade finished weak at Rs 137.50 ( 138.76) 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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