Rubber prices stay static

Print this page Posted on : 01-22-2009 by recycleinme.com

Aravindan

Kottayam, Jan. 21

Physical rubber prices closed almost unchanged on Wednesday. The market was better quoting with sheet rubber up to Rs 67.50 a kg on early trades but the declines in the international and domestic futures kept the prices under pressure on late trades. The grade finished marginally higher at Rs 66.75 against Rs 66.50 on Tuesday. There were no fresh enquiries from the tyre sector.

Futures weaken

February futures for RSS 4 weakened to Rs 68 (69.55), March to Rs 69 (70.49), April to Rs 70.50 (72.28) and May to Rs 71.65 (73.28) a kg on National Multi Commodity Exchange (NMCE).

Rubber futures on the Tokyo Commodity Exchange were mixed on early trades. The near months January and February managed to move into green towards morning close as buyers gained strength amidst yen's retreat against Dollar. But selling spread the entire market once again in the afternoon driving all contracts sharply down into the minus column.

RSS 3 declined at its January contract to ¥132.5 (Rs 72.55) against ¥137, February to ¥134.5 (139), March to ¥136.3 (144.2 ), April to ¥138.1 (146.2), May to ¥140 (148.8) and June to ¥142 (150) a kg on TOCOM. RSS 3 (spot) moved up to Rs 75.36 (74.84) a kg at Bangkok.

Spot rates (Rs/kg) were: RSS-4: 66.75 (66.50); RSS-5: 65.50 (65.50); Ungraded: 64.50 (64.50); ISNR 20: 65 (65) and Latex 60 per cent: 60.50 (60.50).

Source : Business Line