Spot rubber static on lack of buying

Print this page Posted on : 02-14-2009 by recycleinme.com

Kottayam, Feb. 13

Spot rubber maintained the steady mood on Friday. The lack of support from the consuming sector kept the prices depressed though the international indices were in a positive mood.

"The producing community is waiting for an uptrend and they are holding the stocks with higher expectations," an analyst said. "They may stick on to a wait and watch policy in the weeks ahead," he added.

Meanwhile, sheet rubber closed unchanged at Rs 67.50 a kg even amidst scattered transactions. Rubber futures on the Tokyo Commodity Exchange held on to the solid morning gained on late trades.

Futures mixed

The futures were mixed at the opening while technical transactions were dominant on early trades in the absence of trend setting factors

RSS 3 improved at its February contract to ¥133 (129.4) (Rs70.89), March to ¥136.1 (131.2), April to ¥138.3 (134), May to ¥140.1 (136.5), June to ¥141.5 (139) and July to ¥143.6 (140.6) a kg on TOCOM. RSS 3 (spot) closed marginally higher at Rs 73.30 (73) a kg at Bangkok.

Spot rubber rates (Rs/kg) were: RSS-4: 67.50 (67.50); RSS-5: 66 (66); Ungraded: 65 (65); ISNR 20: 65 (65) and Latex 60 per cent: 57 (57).

Source : Business Line