Spot rubber prices improve

Print this page Posted on : 08-28-2008 by recycleinme.com

Spot rubber flared up on Wednesday. RSS 4 crossed above the magical level of Rs 140 to settle firm at Rs 141 (Rs 139) a kg on better demand. Supply concerns dominated the market mood and covering groups remained extremely aggressive on the grade during the session.

The transactions were low. The international indices continued to post moderate gains followed by another rally in oil futures.

"There were no fresh quotes from the major consuming industries as expected during the week'', sources said. "But we expect the market to rule firm as the chances for an improvement in arrivals are quite remote in near term'', they added.

Futures gain

The September futures for RSS 3 moved up to ¥336.9 (335.21), October to ¥331.8 (325.6), November to ¥327.1 (320.8), December to ¥322.7 (315.9), January to ¥319 (312.1) and February futures to ¥318.6 (312.3) a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 141 (139); RSS-5: 137 (135); ungraded: 132 (130); ISNR 20: 134 (131) and latex 60 per cent: 81.50 (81).

Source : Business Line