Spot rubber rules firm

Print this page Posted on : 04-29-2009 by recycleinme.com

The physical rubber prices closed unchanged on Tuesday. The market failed to move ahead in tune with the sharp gains on National Multi Commodity Exchange (NMCE).

According to observers, sentiments remained neutral in the absence of quantity buyers and sellers in the main marketing centres. Sheet rubber finished flat at Rs 100 a kg amidst low volumes. There is real shortage of rubber in the State. Arrivals have virtually dried up due to want of stock with the growers, said Prof Devasia, a small grower and a commentator.

Futures gain

RSS 4 flared up at its May futures to Rs 102.40 (98.74), June to Rs 98.10 (95.80), July to Rs 94.40 (92.66) and August futures to Rs 91.50 (89.64) a kg on NMCE. The May futures for RSS 3 improved to ¥149.5 (147.7) (Rs 78.38), June to ¥148.6 (148.2), July to ¥151 (150), August to ¥152.8 (151.2), September to ¥154.6 (153.8) and October to ¥155.9 (154.9) a kg on Tokyo Commodity Exchange (TOCOM). RSS 3 spot closed at Rs 81.57 (81.56) a kg at Bangkok. The grade slipped to Rs 80.39 (80.46) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 100 (100); RSS-5: 97.50 (97.50); ungraded: 94 (94); ISNR 20: 95 (95) and latex 60 per cent: 71 (71).

Source : Business Line