Spot rubber rules steady

Print this page Posted on : 06-19-2009 by recycleinme.com

Spot rubber closed steady on Thursday. The market lost its direction as there were no active participants in the main marketing centres to set the trend. Sheet rubber finished flat at Rs 98 a kg amidst comparatively dull volumes. According to observers, the grade was buyer at the quoted level on early trades but seller during the closing hours. There were no fresh enquiries from the tyre sector.

Futures weak

The July futures for RSS 4 downed the shutters at Rs 97.51 (97.35), August at Rs 95.60 (95.22) , September at Rs 93.52 (93.18) and October at Rs 91.99 (91.78) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 slipped at its June futures to ?148.5 (?150.3) (Rs 74.77), July to ?150 (?151.8), August to ?151.8 (?155), September to ?154.2 (?157), October to ?156 (?159.3) and November to ?158 (?161.4) a kg during the morning session on TOCOM. The grade closed at ?150 (Rs 75.53), ?149.8, ?153.2, ?155.8, ?157.9 and ?159.6 per kg consecutively during the night session. RSS 3 improved to Rs 81.05 (80.06) a kg on Singapore Commodity Exchange (SICOM). It closed in green at Rs 81.57 (81.38) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 98 (98); RSS-5: 95.50 (95.50); ungraded: 93 (93); ISNR 20: 90.50 (90.50) and latex 60 per cent: 83 (83).

Source : Business Line