Spot rubber improves

Print this page Posted on : 10-23-2008 by recycleinme.com

Rubber prices improved further on Wednesday. RSS 4 moved up to Rs 92 a kg from Rs 90 a kg on Tuesday. The market made all-round gains as traders remained moderately active during the session while sellers stayed back expecting the prices to recover in the days ahead.

There were no fresh enquiries from the tyre sector. Rubber futures on the Tokyo Commodity Exchange fell deep into minus territory on Wednesday afternoon following oil futures' declines and the yen's climb against dollar. In the domestic market sheet rubber was traded at Rs 94 a kg on early trades but lost strength on later as the trend setting Japanese indices moved down to the minus territory after a firm opening.

The October contract for RSS 3 closed weak at ¥182.3 (Rs 90.59) against ¥185.7, November at ¥181.8 (188.4), December at ¥180.3 (¥189), January at ¥178.5 (¥188.3), February at ¥179.3 (¥190.3) and March at ¥180.7 (¥192) a kg on TOCOM. The grade improved to Rs 91.45 (Rs 87.93) a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 92 (90); RSS-5: 89 (87.50); ungraded: 87 (85); ISNR 20: 86 (84) and latex 60 per cent: 67.50 (67.50).

Source : Business Line