Spot rubber rules steady

Print this page Posted on : 06-27-2009 by recycleinme.com

Spot rubber closed unchanged on Friday. According to observers, the market ended on a steady note following an almost similar trend in domestic futures on NMCE and sustained rains all over the plantation areas during the past 24 hours.

Sheet rubber ended firm at Rs 100 a kg amidst extremely dull volumes. There were no revised quotes from major manufacturers.

Futures firm

The July futures for RSS 4 ended at Rs 98.16 (98.18), August at Rs 95.14 (95.34) , September at Rs 92.56 (92.98) and October at Rs 91.60 (91.66) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved further at its July futures to ¥153.5 (¥152.5) (Rs 77.50), August to ¥154.5 (¥153.6), September to ¥155.8 (¥154.5), October to ¥156.6 (¥155.1), November to ¥158.2 (¥156) and December to ¥159.6 (¥157.5) a kg during the day session on TOCOM. The grade closed at ¥156.5 (Rs 78.93), ¥157.5, ¥159, ¥159.1, ¥160.4 and ¥161.9 a kg consecutively on late trades. RSS 3 closed marginally higher at Rs 80.59 (Rs80.30) a kg on Singapore Commodity Exchange (SICOM). It slipped further to Rs 80.72 (Rs 80.91) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 100 (100); RSS-5: 97.50 (97.50); ungraded: 95 (95); ISNR 20: 90.50 (90.50) and latex 60 per cent: 86.50 (86.50).

Source : Business Line