Spot rubber flares up

Print this page Posted on : 07-31-2008 by recycleinme.com

Rubber prices continued their upward journey to create yet another recordat closing on Wednesday. RSS 4 flared up to Rs 139 a kg from Rs 137 a kg as covering groups turned extremely aggressive on the grade. Major manufacturers were buyers on sheet rubber up to Rs 138 a kg but they failed to procure the raw material as traders were unwilling to sell the stock at lower levels.

RSS 3 weakened at its August futures to ¥333.2 ( Rs 131.11) from ¥334.8 a kg at TOCOM. But its spot improved to Rs 134.06 (Rs133.76) a kg at Bangkok. Sspot prices (Rs a kg) were: RSS-4: 139 (137); RSS-5: 136.50 (135); ungraded: 133 (131.50); ISNR 20 : 135 (134); and latex 60% : 90 ( 90).

Source : Business Line