Spot rubber hit by lack of demand

Print this page Posted on : 01-07-2009 by recycleinme.com

Kottayam, Jan. 6

The spot rubber prices finished flat on Tuesday. Moderate gains in the Japanese futures failed to cheer the domestic sentiments as there were no follow up buying from the major consuming industries. Sheet rubber closed unchanged at Rs 75 a kg as on Monday. The volumes were low.

Futures down

The January contract for RSS 4 ended at Rs 75 (75.01), February at Rs 76 (76.14), March at Rs 76.26 (76.47), and April at Rs 77.62 (77.41) a kg on National Multi Commodity Exchange (NMCE). Rubber futures on the Tokyo Commodity Exchange opened higher attracting short covering coupled with fresh buying and improved further catalysed by bullish crude oil futures and Yen's weakness against Dollar.

The January futures for RSS 3 moved up to ¥151.3 (Rs 78.44) from ¥145.3, February to ¥152.0 (144.4), March to ¥152.3 (144.8), April to ¥152.7 (143.1), May to ¥153.2 (144.4) and June to ¥154.6 (145.0) akg on TOCOM. Its spot improved to 72.94 (70.55) a kg at Bangkok.

Spot rubber rates (Rs/kg): RSS-4: 75 (75); RSS-5: 72.50 (72.50); Ungraded: 70 (70); ISNR 20: 70.50 (70.50).

Source : Business Line