Spot rubber improves on global cues

Print this page Posted on : 06-26-2009 by recycleinme.com

The physical rubber prices improved on Thursday. A positive closing in the domestic and international rubber futures catalysed the domestic sentiments as sellers stayed back letting the prices to firm up on covering purchases. Certain traders were moderately active during the session though there were no fresh quotes from the tyre sector. Sheet rubber firmed up to Rs 100 from Rs 99 a kg on comparatively better demand.

Futures gain

The July futures for RSS 4 concluded at Rs 98.05 (97.75), August at Rs 95.25 (95.14), September at Rs 92.98 (92.45) and October at Rs 91.65 (91.55) a kg on National Multi Commodity Exchange (NMCE). The July futures for RSS 3 improved to ¥151 (146) (Rs 76.25), August to ¥153.6 (148.2), September to ¥154.3 (149.4), October to ¥155 (150.5), November to ¥155.8 (151.9) and December to ¥157.3 (154.5) a kg during the day session on TOCOM. The grade closed at ¥152.5, ¥153.6, ¥154.8, ¥155.1, ¥156.6 and ¥157.9 a kg consecutively during the night session.

RSS 3 was quoted at Rs 80.30 (79.37) a kg on Singapore Commodity Exchange (SICOM). It slipped to Rs 80.91 (81.39) a kg at Bangkok.

Spot prices were (Rs/kg): RSS-4: 100 (99); RSS-5: 97.50 (96); ungraded: 95 (93.25); ISNR 20: 90.50 (90) and latex 60 per cent: 86.50 (85).

Source : Business Line