Spot rubber unchanged

Print this page Posted on : 01-29-2009 by recycleinme.com

Spot rubber rates finished almost unchanged on Wednesday.

The prices might have improved lacking quantity sellers in the major marketing centres but the declines in Japanese rubber futures neutralised the domestic sentiments aborting the initial bullishness.

Sheet rubber finished flat at Rs 68.50 a kg amidst narrow volumes. RSS 4 firmed up marginally at its February futures to Rs 70.25 (Rs 70.02), March to Rs 71.15 (Rs 70.98), April to Rs 72.49 (Rs 72.48) and May to Rs 73.30 (Rs 73.07) a kg on National Multi Commodity Exchange (NMCE).

The rubber futures on the Tokyo Commodity Exchange fell back at the opening on profit booking at higher levels followed by Tuesday's strong gains. Buyers stayed back amidst sharp declines in oil futures. Though the market showed some resistance on late trades, sentiments remained sluggish from midmorning to afternoon.

The February futures for RSS 3 moved down to ¥135.6 (140.2) (Rs 74.26), March to ¥138.2 (143.0), April to ¥140.1 (144.4), May to ¥143.0 (145.7), June to ¥144.4 (148.0) and July to ¥145.7 (149.2) a kg on TOCOM.

The grade's spot closed at Rs 72.32 a kg at Bangkok.

The spot rates are Rs/kg: RSS-4: 68.50 (68.50); RSS-5: 67.50 (67.50); Ungraded: 67.00 (67.00); ISNR 20: 66.50 (66.50) and Latex 60%: 59.00 (60.00).

Source : Business Line