Spot rubber prices rule steady

Print this page Posted on : 11-28-2008 by recycleinme.com

The rubber prices were steady on Thursday. According to market circles, the trading activities were in an extremely dull pace in the absence of quantity buyers and sellers.

Major consuming industries continued to sideline the market and sheet rubber RSS 4 finished flat at Rs 66 a kg as on Wednesday. The rubber futures on the Tokyo Commodity Exchange maintained strength during the day. The market made a firm start on short- covering amidst gains in oil and yen’s decline against the dollar.

SENTIMENTS FIRM

Sentiments were firm from midmorning to afternoon and covering purchases managed to keep the prices in the positive zone even on late trading. RSS 3 improved at its December futures to 123 ( Rs 63.34) from 120 yen, January to 125.7 yen ( 122.3), February to 128.9 yen ( 124.8), March to 130.8 yen ( 126.4), April to 133.8 yen ( 130.3) and May to 136.3 yen ( 131) a kg at TOCOM. Its spot moved down further to Rs 75.33 ( Rs 76.11) a kg at Bangkok. The per kg physical rubber rates were RSS- 4 - Rs 66 ( Rs 66), RSS- 5 - Rs 63.50 ( Rs 63.50), ungraded – Rs 61 ( Rs 61), ISNR 20 – Rs 63 ( Rs 63) and latex 60% - Rs 51 ( Rs 51)

Source : Business Line