Mixed trend in rubber

Print this page Posted on : 02-24-2009 by recycleinme.com

The physical rubber prices showed a mixed trend on Monday. The gainers of the day were ungraded rubber and RSS 5 which improved by 50 paise on scattered transactions. Sheet rubber RSS 4 closed flat at Rs 71.50 a kg as on the previous weekend. The volumes were low. The domestic rubber futures remained closed on account of Maha Sivarathri on NMCE.

Futures firm

The rubber futures on the Tokyo Commodity Exchange finished marginally higher in all distant contracts on Monday. The February 2009 contract expired flat drawing a final price of 123.6 yen as on last Friday.

The market generally lacked strength amidst long liquidation on early trades in the absence of strong incentives specific to rubber. The February contract for RSS 4 closed at ¥123.6 (123.6) (Rs 64.97), March at ¥127.6 (126.4), April at ¥129.3 (129), May at ¥132.1 (130.4), June at ¥133.1 (132.1) and July at ¥135.9 (134.2) a kg on TOCOM. Spot rates were (Rs/kg): RSS-4: 71.50 (71.50); RSS-5: 70.50 (70); ungraded: 69.50 (69); ISNR 20: 68 (68) and latex 60 per cent: 58 (58).

Source : Business Line