Inactive trade keeps rubber price static

Print this page Posted on : 07-25-2009 by recycleinme.com

Spot rubber closed unchanged on Friday. The market failed to sort out a specific direction as there were no active traders either in the buyers or sellers side to set the trend. Sheet rubber closed flat at Rs 98.25 a kg while the major consuming industries continued to abstain the market. The volumes were poor.

Futures steady

The August futures closed at Rs 96.25 (96.36), September at Rs 93.65 (93.34), October at Rs 91.20 (90.82) and November at Rs 90.80 (90.30) a kg on National Multi Commodity Exchange (NMCE). RSS 3 firmed up at its July futures to ?176 (?170.5) (Rs 89.50), August to ?174.9 (?170.7), September to ?174 (?170), October to ?176.6 (?171.5), November to ?178.2 (?173.6) and December to ?179.9 (?175.2) a kg during the day session on TOCOM.

The July futures for the grade declined to ?168.5 (Rs 85.66) while the August futures closed better at ?177, September at ?175.6, October at ?178.5, November at ?181.1 and December at ?182.6 a kg during the night session. RSS 3 flared up to Rs 90.11 (88.04) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 88.27 (87.89) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 98.25 (98.25); RSS-5: 96 (96); ungraded: 93.50 (93.50); ISNR 20: 88 (88) and latex 60 per cent: 83.20 (83.20).

Source : Business Line