Spot rubber gains on rains

Print this page Posted on : 07-29-2008 by recycleinme.com

The rubber market showed a better trend on Monday. According to sources, sentiments continued to be firm on domestic fundamentals. Most of the plantations were badly affected by continuing showers resulting in disruption of tapping.

RSS 4 improved to Rs 137 from Rs 136.50 a kg on the previous weekend. The volumes were low. Covering groups maintained the prices at higher levels expecting revised quotes from major manufacturers. "But we do not expect the consuming sector to re-enter the market at these levels since it is ruling much above the international rubber,'' an observer said.

Futures slip

The August futures for RSS 3 slipped to ¥335.3 (Rs 132.73) from ¥337 a kg, September to ¥332.8 (¥336.6), October to ¥332.6. (¥336.3), November to ¥331.8 (¥336.1), December to ¥331 (¥335) and January futures to ¥332 (¥337.1) a kg at TOCOM. The grade (spot) moved up to Rs 133.83 (Rs 133.19) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 137 (136.50); RSS-5: 135 (134.50); ungraded: 131.50 (131.50); ISNR 20: 134 (133.50) and latex 60 per cent: 90 (90).

Source : Business Line