Spot rubber gains on global cues

Print this page Posted on : 05-28-2009 by recycleinme.com

Spot rubber turned better on Wednesday. The market seemed to be reacting in tandem with the positive closing in the leading international indices as sellers stayed back expecting a recovery in domestic prices. Sheet rubber improved to Rs 98 from Rs 97 a kg on covering purchases. The transactions were dull.

Futures recover

The June futures for RSS 4 recovered to Rs 98.10 (96.16), July to Rs 96 (94.08), August to Rs 93.50 (91.47) and September to Rs 91 (89.75) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved at its June futures to ¥152.5 (¥151) (Rs 76.22), July to ¥154.9 (¥154), August to ¥157.1 (¥156.2), September to ¥159.4 (¥158.4), October to ¥161.7 (¥160.5) and November to ¥163.7 (¥162.3) a kg during the day session on TOCOM.

The grade firmed up further to ¥153.4 (Rs 76.65), ¥156.8, ¥159.1, ¥162, ¥163.2 and ¥165.5 a kg consecutively on late trades. RSS 3 finished firm at Rs 81.25 (80.77) a kg on Singapore Commodity Exchange (SICOM). The grade improved to Rs 83.82 (82.98) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 98 (97); RSS-5: 96.50 (95.50); ungraded: 94 (93); ISNR 20: 93 (92.50) and latex 60 per cent: 74 (73.50).

Source : Business Line