Spot rubber turns weak

Print this page Posted on : 05-26-2009 by recycleinme.com

Spot rubber turned weak on Monday. The market opened firm on covering purchases quoting sheet rubber at Rs 100.50 a kg on early trades but lost its steam later on buyer resistance in tune with the domestic futures on NMCE.

The grade moved down to Rs 99.50 from Rs 100 a kg during the previous weekend. The gainer of the day was latex 60 per cent which improved sharply on low supply. The trend was mixed.

RSS 4 declined at its June futures to Rs 98.00 (99.14), July to Rs 95.44 (96.16), August to Rs 93.20 (93.71) and September to Rs 91 (91.90) a kg on National Multi Commodity Exchange (NMCE).

Futures improve

The May futures for RSS 3 improved to ¥156.5 (¥153.6) (Rs 77.83), June to ¥155.2 (¥151.5), July to ¥157.4 (¥154.4), August to ¥159.9 (¥156.5), September to ¥162.4 (¥158.5) and October to ¥164.2 (¥160.7) a kg on early trades on Tokyo Commodity Exchange (TOCOM). The grade closed at ¥155.4 (June), ¥157.2 (July), ¥159.9 (August), ¥161.7 (September) and ¥164.1 (October) a kg during the night session. RSS 3 (spot) slipped further to Rs 83 (83.24) a kg at Bangkok. The grade firmed up to Rs 80.87 (79.53) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 99.50 (100); RSS-5: 97 (97); ungraded: 95.50 (96); ISNR 20: 93.50 (93.50) and latex 60 per cent: 73.50 (72).

Source : Business Line