Spot rubber prices improve

Print this page Posted on : 07-29-2009 by recycleinme.com

Kottayam, July 28

The physical rubber prices improved on Tuesday. The market moved up as sellers stayed back following the rumours of an acute shortage of the raw material.

Another positive closing in the domestic futures on NMCE catalysed the sentiments further and sheet rubber closed in green at Rs 99 (98) a kg mainly on covering purchases. A leading non-tyre manufacturer bought the grade at the quoted levels on early trades. The trend was mixed as ISNR 20 finished flat and latex 60 per cent declined on low demand.

Futures firm

RSS 4 firmed up at its August futures to Rs 97.70 (97.03), September to Rs 95.18 (94.37), October to Rs 93.50 (92.49) and November to Rs 93.35 (92.50) a kg on National Multi Commodity Exchange (NMCE).The August futures for RSS 3 closed at ?180.4 (?178.3) (Rs 91.79), September at ?178.6 (?178.9), October at ?181.9 (?182.2), November at ?184.8 (?184.7), December at ?186.8 (?186.7) and January at ?189 (?190) a kg during the day session on TOCOM.

The August futures closed at ?181 (Rs 92.10), September at ?178.4, October at ?180.7, November at ?183.7, December at ?185.8 and January at ?187.9 a kg during the night session. RSS 3 slipped to Rs 91.35 (91.48) a kg on Singapore Commodity Exchange (SICOM). The grade moved up marginally to Rs 89.39 (89.10) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 99 (98); RSS-5: 96.50 (96); ungraded: 94.50 (93.50); ISNR 20: 88.50 (88.50) and latex 60 per cent: 80 (82.25).

Source : Business Line