Mixed trend in spot rubber

Print this page Posted on : 08-26-2008 by recycleinme.com

Rubber prices showed a mixed mood on Monday. The trading activities were dull amidst low volumes as there were no quantity buyers or sellers in the market. A bounce back in TOCOM August futures after a weak start kept the domestic buyers slightly active on sheet rubber. The grade improved to Rs 138 from Rs 137 a kg on the previous week end. It may take a few more weeks for an improvement in arrivals even after a favourable turn in weather, sources said.

Currently, the market is waiting revised quotes from major consuming industries and it would be difficult for rubber to sustain at current levels without enough support for a long time.

Futures higher

The August contract for RSS 3 expired sharply higher at ¥344 (Rs 137.06) from ¥328.7 a kg, while its September futures improved to ¥326.8 (¥321.4), October to ¥323.7 (¥319.6), November to ¥318.3 (¥313.5), December to ¥314.7 (¥310.3) and January to ¥312.1 (¥309.7) a kg at TOCOM. The grade (spot) firmed up to Rs 125.81 (124.11) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 138 (137); RSS-5: 134.50 (134.50); ungraded: 128 (128); ISNR 20: 130.50 (131.50) and latex 60 per cent: 80 (81).

Source : Business Line