Covering buy props up spot rubber

Print this page Posted on : 01-28-2009 by recycleinme.com

Kottayam, Jan. 27

Physical rubber prices moved up on Tuesday. The market improved on covering purchases catalysed by a bullish closing in Japanese rubber futures. In spot, sheet rubber improved to Rs 68.50 from Rs 67.50 a kg.

Futures higher

The February futures for RSS 4 concluded at Rs 70.15 (Rs 69.98), March at Rs 71.00 (Rs 71.22), April at Rs 72.50 (Rs 72.65) and May at Rs 73.06 (Rs 73.37) a kg on the National Multi Commodity Exchange.

The February futures for RSS 3 flared up to ¥140.2 (130.1) (Rs.76.40), March to ¥143.0 (133.4), April to ¥144.4 (134.5), May to ¥145.7 (136.7), June to ¥148.0 (138.6) and July to ¥149.2 (140.0) a kg on TOCOM.

The spot rates a kg were: RSS-4: 68.50 (67.50) RSS-5: 67.50 (66.00) Ungraded: 67.00 (65.50) ISNR 20: 66.50 (65.50) and Latex 60%: 60.00 (60.00)

Source : Business Line