Spot rubber turns weak

Print this page Posted on : 02-26-2009 by recycleinme.com

The physical rubber prices turned weak on Wednesday. Though the international markets were in a positive mood, the domestic sentiments remained sluggish in the absence of follow up support from major consuming industries. Sheet rubber moved down to Rs 71 from Rs.71.50 a kg on selling from dealers and growers. The market made all-round declines amidst comparatively dull volumes.

The March futures for RSS 4 slipped to Rs 70.50 (70.70), April to Rs 71.44 (71.94), May to Rs 72.50 (72.71) and June to Rs 72.94 (73) a kg on National Multi Commodity Exchange (NMCE).

Futures better

Rubber futures on the Tokyo Commodity Exchange showed a better trend on Wednesday. The March futures for RSS 3 improved to ¥129.8 (125.2) (Rs 67.09), April to ¥131 (127), May to ¥133.1 (129), June to ¥134.6 (130.7), July to ¥135.9 (132) and August to ¥137 (134) a kg on TOCOM. The grade closed firm at Rs 71.72 (71.39) a kg on Singapore Commodity Exchange (SICOM). Spot rates were (Rs/kg): RSS-4: 71 (71.50); RSS-5: 70 (70.50); ungraded: 69 (69.50); ISNR 20: 68 (68) and latex 60 per cent: 57 (58).

Source : Business Line