Spot rubber turns weak

Print this page Posted on : 07-23-2009 by recycleinme.com

Spot rubber turned weak on Wednesday. According to observers, the market slipped following a favourable change in domestic weather which in turn might result in an improvement in arrivals shortly.

Sheet rubber opened steady but slipped to Rs 98.75 from Rs 99 a kg during late trades. There were no fresh enquiries from the tyre sector and the market made all-round declines on selling from dealers.

Futures firm

The August futures for RSS 4 finished at Rs 96.40 (96.80), September at Rs 92.76 (92.88), October at Rs 90.35 (90.23) and November at Rs 89.88 (90.10) ar kg on National Multi Commodity Exchange (NMCE). The July futures for RSS 3 moved up marginally to ?169.5 (?165.5) (Rs 88.07), August to ?170.8 (?170.2), September to ?171.1 (?171), October to ?171.8 (?171.6), November to ?173.5 (?173.3) and December to ?175 (?174.6) a kg during the day session on TOCOM.

The August futures closed at ?169.8, September at ?170, October at ?170.6, November at ?172.5 and December at ?173.9 a kg during the night session. The July futures remained inactive on late trades. RSS 3 flared up to Rs 87.71 (85.60) a kg at Bangkok. The grade closed at Rs 87.35 (87.22) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 98.75 (99); RSS-5: 96.50 (97.50); ungraded: 94 (94.50); ISNR 20: 88 (89) and latex 60 per cent: 84 (85).

Source : Business Line