Mixed trend in spot rubber

Print this page Posted on : 07-22-2009 by recycleinme.com

Physical rubber prices witnessed a mixed trend on Tuesday. Sheet rubber weakened to Rs 99 from Rs 99.50 a kg after hitting an intra-day high of Rs 100 a kg on early trades.

According to sources, the grade saw heavy selling at Rs 100-levels possibly due to a favourable change in weather and a weak closing in domestic futures on NMCE. Major manufacturers continued to sideline the market, while latex 60 per cent flared up further on better demand amidst low supply.

Futures decline

The August futures for RSS 4 finished at Rs 96.80 (97.75), September at Rs 92.98 (93.67), October at Rs 90.45 (90.50) and November at Rs 90.10 (89.70) a kg on National Multi Commodity Exchange (NMCE). The July futures for RSS 3 improved to ?165.5 (?162.2) (Rs 84.96), August to ?170.2 (?167.5), September to ?171 (?167.1), October to ?171.6 (?167.9), November to ?173.3 (?169.6) and December to ?174.6 (?171.1) a kg during the day session on TOCOM. The July futures concluded at ?166.5 (Rs 85.47), August at ?170.1, September at ?168.9, October at ?169.1, November at ?170.9 and December at ?172.5 a kg during the night session. RSS 3 firmed up to Rs 87.22 (86.09) a kg on Singapore Commodity Exchange (SICOM). The grade closed at Rs 85.60 (85.19) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 99 (99.50); RSS-5: 97.50 (97.50); ungraded: 94.50 (94); ISNR 20: 89 (89) and latex 60 per cent: 85 (83.50).

Source : Business Line