Mixed trend in rubber

Print this page Posted on : 04-22-2009 by recycleinme.com

The physical rubber prices showed a mixed mood on Tuesday.

According to sources, the market was resilient at lower levels as the domestic futures recovered sharply on fresh buying and short covering on NMCE.

A weak closing in international futures failed to make any visible impact in prices. Sheet rubber closed unchanged at Rs 92.25 a kg in the absence of quantity sellers on the grade.

The volumes were low.

Futures improve

The May futures for RSS 4 flared up to Rs 94.05 (91.13), June to Rs 93.15 (90.57), July to Rs 90.50 (88.35) and August to Rs 89.90 (87.28) a kg on National Multi Commodity Exchange.

RSS 3 declined at its April futures to ¥153.5 (159.3) (Rs 78.79), May to ¥155 (162), June to ¥154.7 (162.4), July to ¥156.1 (162.8), August to ¥157.6 (164.2) and September to ¥158.1 (165.5) a kg on Tokyo Commodity Exchange (TOCOM).

RSS 3 improved marginally to Rs 82.20 from Rs 82.08 a kg at Bangkok.

The grade fell further to Rs 79.17 (82.39) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 92.25 (92.25); RSS-5: 90 (91); ungraded: 88 (89); ISNR 20: 89 (89) and latex 60 per cent: 70 (70).

Source : Business Line