Spot rubber rules steady

Print this page Posted on : 05-29-2009 by recycleinme.com

The physical rubber prices finished unchanged on Thursday. The market was neutral amidst scattered transactions following a weak closing in domestic rubber futures on NMCE.

According to observers, there were no active buyers or sellers in the main marketing centres to set the trend. Sheet rubber finished flat at Rs 98 a kg in a rather dull trading session. RSS 4 declined at its June futures to Rs 97.30 (98.05), July to Rs 94.75 (96), August to Rs 92.60 (93.50) and September to Rs 90.01 (91) a kg on National Multi Commodity Exchange (NMCE).

Futures improve

The June futures for RSS 3 improved to ¥155 (¥152.5) (Rs 76.23), July to ¥158.2 (¥154.9), August to ¥160.6 (¥157.1), September to ¥162.9 (¥159.4), October to ¥165.1 (¥161.7) and November to ¥167 (¥163.7) a kg on TOCOM. The grade slipped marginally to ¥160.5, ¥162.08, ¥154.8 and ¥167 a kg consecutively at its most distant contracts during the night session. RSS 3 closed at Rs 82.54 (81.25) a kg on Singapore Commodity Exchange (SICOM). The grade (spot) firmed up to Rs 84.04 (83.82) a kg at Bangkok.

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

Source : Business Line