Spot rubber gains on global cues

Print this page Posted on : 07-28-2009 by recycleinme.com

Kottayam, July 27

Spot rubber showed a better trend on Monday. The prices firmed up as sellers stayed back following an improvement in the domestic and international rubber futures.

Sheet rubber moved up to Rs 98 from Rs 97.50 a kg on covering purchases. There were no fresh enquiries from the tyre sector and the market made all-round gains on supply concerns. The volumes continued to be low.

Futures improve

The August futures for RSS 4 closed at Rs 97 (96), September at Rs 94.46 (93.16), October at Rs 92.67 (91.20) and November at Rs 92.50 (90.80) a kg on National Multi Commodity Exchange (NMCE). RSS 3 improved at its July futures to ?177.5 (?176) (Rs 89.85), August to ?178.3 (?174.9), September to ?178.9 (?174), October to ?182.2 (?176.6), November to ?184.7 (?178.2) and December to ?186.7 (?179.9) a kg during the day session on TOCOM.

The August futures for the grade closed at ?181.5, September at ?179.5, October at ?181.7, November at ?184.4 and December at ?186.5 a kg on late trades. RSS 3 moved up to Rs 91.48 (90.11) a kg on Singapore Commodity Exchange (SICOM). The grade closed firm at Rs 89.10 (88.27) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 98 (97.50); RSS-5: 96 (95.50); ungraded: 93.50 (93); ISNR 20: 88.50 (88) and latex 60 per cent: 82.25 (82.25).

Source : Business Line