Spot rubber rules firm

Print this page Posted on : 07-17-2009 by recycleinme.com

Physical rubber prices ruled firm on Thursday. According to observers, the market improved following the widespread gains in the domestic and international rubber futures.

Sheet rubber moved up to Rs 97.50 from Rs 97 a kg as covering groups remained active on the grade on late trades. Major manufacturers continued to sideline the market.

Futures gain

The August futures for RSS 4 firmed up further to Rs 95.08 (94.39), September to Rs 91.50 (89.94), October to Rs 89.11 (87.93) and November to Rs 87.52 (86) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 improved at its July futures to ?162.2 (?159.3) (Rs 82.83), August to ?162.6 (?159.4), September to ?163.2 (?158.4), October to ?162.9 (?158.3), November to ?164.2 (?159.3) and December to ?166 (?160.7) a kg during the day session on TOCOM.

The August futures closed at ?163.7, September at ?162, October at ?162, November at ?163.5 and December at ?165 a kg, while the July futures remained inactive during the night session. RSS 3 moved up to Rs 83.60 (82.54) a kg at Bangkok. The grade closed at Rs 82.78 (82.35) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 97.50 (97); RSS-5: 95.50 (95); ungraded: 92.50 (92); ISNR 20: 87.50 (87) and latex 60 per cent: 80 (80).

Source : Business Line