Spot rubber declines on global cues

Print this page Posted on : 04-21-2009 by recycleinme.com

Spot rubber lost further on Monday.

The sentiments were strongly affected by the sharp declines in global rubber prices and the lack of support from major manufactures. Sheet rubber moved down to Rs 92.25 from Rs 95 a kg during the last weekend. The market made all-round declines on selling from dealers and growers.

Futures firm

The May futures for RSS 4 closed at Rs 91.30 (91.63), June at Rs 90.61 (90.50), July at Rs 88.16 (87.84) and August at Rs 87.50 (88) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 declined sharply at its April futures to ¥159.3 (167.3) (Rs 81.13), May to ¥162 (169.1), June to ¥162.4 (168.6), July to ¥162.8 (168.9), August to ¥164.2 (171.2) and September to ¥165.5 (171.3) a kg on Tokyo Commodity Exchange (TOCOM).

RSS 3 weakened to Rs 82.39 (84.83) a kg on Singapore Commodity Exchange (SICOM). It (spot) closed unchanged at Rs. 82.08 a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 92.25 (95); RSS-5: 91 (93); ungraded: 89 (91); ISNR 20: 89 (92) and latex 60 per cent: 70 (71).

Source : Business Line