Mixed trend in rubber

Print this page Posted on : 01-16-2009 by recycleinme.com

Kottayam, Jan. 15

Spot rubber showed a mixed trend on Thursday. According to sources sentiments were partially affected by a weak closing in Japanese futures. Sheet rubber slipped to Rs 71 from Rs 71.50 a kg on buyer resistance.

Most of the grades finished flat but latex 60 per cent closed better on sustained demand. In domestic futures, RSS 4 improved marginally at its January contract to Rs 72.85 (72.40), February to Rs 74 (73.31), March to Rs 74.97 (74.36), and April to Rs 76.40 (76.12) a kg on National Multi Commodity Exchange (NMCE).

Futures weak

Rubber futures on the Tokyo Commodity Exchange turned weak amidst long liquidation on Thursday afternoon. Buyers stayed back following the declines in oil futures and the yen's strength against dollar. Though the market showed resilience at one point during the morning session, sellers dominated the scene again from late morning to afternoon. RSS 3 weakened at its January contract to ¥133 (Rs 73.34) from ¥137, February to ¥134.9 (137.4), March to ¥139 (143.6), April to ¥140.8 (145.8), May to ¥142.5 (147.5) and June to ¥144.9 (148.8) a kg on TOCOM. It's spot improved to Rs 74.97 (74.63) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 71 (71.50); RSS-5: 70 (70); ungraded: 68 (68); ISNR 20: 69 (69) and latex 60 per cent: 60.50 (58.50).

Source : Business Line